How the Vancouver strike is affecting the economy and when it will end

How the Vancouver strike is affecting the economy and when it will end

More than 7,400 B.C. longshoremen have been on strike since Saturday morning, bringing more than 30 ports in the province to a standstill, including Canada's busiest port, Vancouver. Economic sources warned that if the strike continues, it will have a serious impact on the Canadian economy, disrupting the Canadian supply chain and even international shipping.

The Canadian Chamber of Commerce has called on the federal government to intervene in the labour conflict. A Chamber of Commerce spokesman said that a one-week shutdown of B.C. ports could cause economic losses of up to $5.5 billion. So the government must intervene quickly, and even legislate to force a return to work if necessary.

The unions, on the other hand, have warned the federal government to stay out of the way, saying federal intervention would undermine the peace in the industry.

The strike is being organized by the Canadian chapter of the International Longshore and Warehouse Union (ILWU). The employer is the B.C. Maritime Employers Association (BCMEA), which represents 49 companies. The differences between the two sides are mainly over contract outsourcing and wage packages.

Professor Bruno Larue of Université Laval said that if the strike continues, it could lead to shortages of certain products and short-term price increases.

At least so far, Federal Labor Minister Seamus O'Regain is still encouraging the two sides to reach an agreement at the bargaining table. The strike is expected to reach an agreement next week.

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