Boeing strike delivers $1.4 billion hit to Washington's economy

Boeing Co. (NYSE: BA) production lines that were churning out more than one commercial jet a day late last year have been quiet for two weeks since union workers rejected the company's contract offer and went on strike Sept. 13. The cost to Washington's gross domestic product is $1.4 billion and counting.

That includes around $690 million in lost labor income, an analysis by Bjorn Markeson, an economist for data and analytics software provider Implan, revealed. And the work stoppage has sent ripples through Boeing’s base of more than 1,100 suppliers throughout the state.

“We’ve already seen what happens when supply chains get disrupted, and the effects on prices across the board,” Markeson said. “Folks that supply inputs to aircraft manufacturing are going to be going to likely take a hit … and folks that use airlines will start seeing a hiccup in their supply chain as well.”

While Boeing returned to the bargaining table Friday with the International Association of Machinists and Aerospace Workers 751, the union that represents around 33,000 of the jet maker's Puget Sound-area workers, talks could linger for a while longer, senior TD Cowen aerospace analyst Cai von Rumohr said.

https://www.bizjournals.com/seattle/news/2024/09/29/boeing-strike-economic-impact-suppliers.html