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/
The labor movement here is probably getting a 10x bigger raise than your average worker in the same timeframe. I can damn near guarantee Walmart isn't going to raise its wages more than 1 or 2 dollars per hour in the timeframe these guys are getting 24 extra dollars per hour. Hell, they might not give ANY raises since there are mass layoffs happening and unemployment is on the rise.
Don't let perfect be the enemy of good.
Accepting pay cuts only serves to aid the capitalist class and dampen working class militancy. Please stop spinning losses as wins. It helps nobody.
It's not a pay cut if you're getting an 8% raise YoY when the historic average inflation is closer to 3% and 2024 is shaping up to be lower than that, with 2025 forecast to be lower than 2024.
If they repeat this 6 years from now, they could be making $200k+ annually soon enough, that's a huge amount of money for your average person.