We’re two-and-a-half months away from Christmas, but a looming dockworkers strike could be the Grinch that steals Christmas this year for some American families.
The International Longshoremen’s Association is set to begin its strike on Tuesday morning, shutting down operations at the Port of New Orleans and other ports on the Atlantic and Gulf Coasts. One economist warns that if you’re the type of person who puts off Christmas shopping until the last minute, you may want to reconsider your plans this year. That’s because the strike could cause a supply shortage of goods as the holidays near.
“If you have concerns about that, go ahead and buy your gifts now,” said Dr. Jim Richardson, economics professor emeritus at LSU. “We can only do that so much, and then you run out of most things that are available.”
Dr. Richardson says a backup of unloaded container ships resulting from the strike will cause supply chain issues that could last into the new year.
“Even if it lasts for a month, it will create problems that will be difficult to resolve by Christmas.”