Catherwood LibraryILR School

While negotiators for both sides failed to reach an agreement on a new contract, West Coast dockworkers will not walk off the job due to contact expiry. The move comes as a substantial help to the national economy, considering that the billions of dollars in cargo handled by those 29 ports represents about 11 percent of the U.S. gross domestic product. Both sides are making a concerted effort to avoid a repeat of the 2002 labor conflict, which led to a 10-day lockout and caused an estimated $15 billion in economic losses.