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Maryland economist discusses how port workers strike could’ve impacted economy
WBAL NewsRadio, October 4, 2024
After negotiations succeeded to suspend the Longshoreman’s Union strike until January 15, port workers have resumed work, bringing relief to economists. The strike could have led to the loss of billions of dollars each day and disrupted imports of goods such as bananas, coffee, and fish. RESI Chief Economist Daraius Irani, said that many major retailers had redirected shipments to the West Coast in anticipation of the strike. However, he stated that this choice might lead to additional challenges, especially when transporting perishable goods from the West Coast to the East Coast, as they may not last long or be fresh upon arrival. The fear of a strike in Baltimore was even more concerning due to recent setbacks from the collapse of the Francis Scott Key Bridge. According to Irani, Baltimore is more likely to be adversely impacted and feel more financial burden than other ports such as those in Philadelphia or Savannah.
Get ready for the November election
Street Cars Suburbs, October 2, 2024
Early voting for the November 5 election starts on October 24 and ends on October 31 from 7 a.m. to 8 p.m. This local ballot guide provides a breakdown of local elections and measures on the ballot for Prince George’s County. This includes ballot questions regarding bond measures, and refers to a 2018 article by the Regional Economic Studies Institute stating that ballot measures of this kind are a required in Baltimore, Baltimore County, and Prince George’s County, and they typically pass.
Maryland economist discusses how port workers strike could’ve impacted economy
CNN – Regional/ News Channel 21, September 27, 2024
In late September, there were significant fears about a potential strike by the Longshoreman’s Union, which would cost around $15 million in lost economic activity per day. Daraius Irani, RESI Chief Economist, stated that a strike would impact 14 ports, disrupting the flow of food and other materials, resulting in a significant economic impact. He also noted that length of strike would determine the severity, with a month-long disruption having more devastating consequences than a one-day strike. After this article was published, the Longshoreman’s Union was able to reach a tentative agreement and avoid a protracted strike.
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