That would raise average wages to about $63 an hour from $39 an hour over the life of the contract.
The union and the port operators said in a statement that they would extend their master contract until Jan. 15, 2025 to return to the bargaining table to negotiate all outstanding issues.
https://xcancel.com/MorePerfectUS/status/1841973125996585431
https://www.reuters.com/world/us/ship-queue-grows-us-ports-dockworker-strike-enters-third-day-2024-10-03/
This is a massive wage increase and a win for the union.
Going from 80k year to 130k could easily be the difference from scraping by to living comfortably if it’s a single income with kids.
Except, it isn't going from 80k to 130k instantly. It's going to 89k, then 96k and so on. Only reaching 130 by the very end of the 6th year. Which might be good if inflation behaves, but if things keep going badly (ie workers continue to get big raises) then the inflation managers at the fed will punish labour some more to make those wage increases meaningless just like they did to the wage gains from over the pandemic.
4% yearly raise after inflation. It's better than nothing, but I think the right thing to do is strike until you win a contract with all your demands. Helps prevent union leadership from becoming collaborationist. I don't know ILA internal politics