U.S. port employers are preparing almost 62% pay increase offer to striking dockworkers

Wall Street Journal with the update, citing “people familiar with the matter”. In brief:

• U.S. port employers are preparing an almost 62% pay increase to get striking dockworkers back to work
• offer is an increase from an earlier proposed raise of 50%
• offer would raise the base hourly rate for ILA port workers from $39 to $63 over six years
• the union has asked for an increase of 77%

Link to the WSJ is here, gated:

• Sweetened proposal comes amid pressure from White House to end a walkout that has shut down ports from Maine to Texas

Such hefty pay increases should hurry along automation …..

This article was written by Eamonn Sheridan at www.forexlive.com.