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Thousands of unionized dockworkers at 14 major U.S. ports, including PortMiami and Port Everglades, are on strike after failing to come to terms on a new labor contract.

Why it matters: A work stoppage that lasts more than a few days will snarl supply chains, raising the prospect of higher prices and shortages of everything from auto parts to bananas as the U.S. heads into the holidays — and a presidential election.

This is the first port strike on the East Coast since 1977, well before the rise in global trade that's made shipping an even more critical piece of the country's supply chain.

State of play: The International Longshoremen's Association, which represents some 85,000 members, said early Tuesday it "shut down" the ports at 12:01am.

The union said it rejected the United States Maritime Alliance's (USMX) final proposal made on Monday.

Catch up fast: Negotiations started more than a year ago between the union and the USMX, which represents ocean carriers and port operators. But they stalled over the summer.

The two sides are far apart on pay and are also at odds over automation provisions (the union wants more protections from, basically, robots taking its jobs).

What they're saying: Johnnie Dixon, president of the ILA's Fort Lauderdale chapter, told Local 10 News that the USMX offer was "laughable" and fueled by "corporate greed."

On Tuesday morning, more than 100 workers were at Port Everglades picketing, the outlet reported.

The other side: USMX defended its offer in a statement Monday, arguing it would "increase wages by nearly 50 percent [and] triple employer contributions to employee retirement plans," among other provisions.

Zoom in: The strike does not impact cruise ship operations, nor would it affect fuel deliveries in Port Everglades, according to the Miami Herald.

Between the lines: Miami-Dade County owns the port and machinery used by freight companies, but private companies oversee cargo operations, per the Herald.

Go deeper: Thousands of dockworkers strike at East Coast and Gulf ports

More: Why East and Gulf coast ports strike could push up consumer prices

Thousands of dockworkers strike at East Coast and Gulf ports

South Florida dockworkers join ports strike

The strike does not impact cruise ship operations.

Illustration of hands holding picket signs made from shipping containers.

Thousands of unionized <a class="gtmContentClick" data-vars-link-text="dockworkers" data-vars-click-url="https://www.axios.com/2024/09/25/east-coast-port-strike-2024-dockworkers" data-vars-content-id="af4d6d92-9a85-4acf-aaf3-6f22f75dface" data-vars-headline="South Florida dockworkers join ports strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/09/25/east-coast-port-strike-2024-dockworkers" target="_self">dockworkers</a> at 14 major U.S. ports, including PortMiami and Port Everglades, are on strike after failing to come to terms on a new labor contract.Why it matters: A work stoppage that lasts more than a few days will snarl supply chains, raising the prospect of higher prices and shortages of everything from auto parts to bananas as the U.S. heads into the holidays — and a presidential election.

News

Data: Federal Student Aid; Chart: Simran Parwani/Axios

At least 1.6 million Floridians are bracing for student loan debt payments to resume in October for the first time since the pandemic began.

Why it matters: Americans with student loan debt tend to be younger and make lower incomes. They're spending a higher share of their income already, so an additional monthly payment will hurt, Axios Markets reporter Emily Peck writes.

Catch up fast: The Supreme Court struck down President Joe Biden's debt relief plan in late June, which would have forgiven up to $10,000 in loans for borrowers making under $125,000 per year or $20,000 for Pell Grant recipients.

Zoom in: Floridians owe more than $100 million in student loan debt, with the average borrower owing about $38,000 — fifth in the U.S. in both categories, according to the Education Data Initiative.

What's next: For now, student loans begin accruing interest again starting Sept. 1.

Go deeper: How to find student loan information before payments resume

Student loan relief ending for at least 1.6 million Floridians

Payments resume in October for the first time since the pandemic began.

Florida

At least 1.6 million Floridians are bracing for student loan debt payments to resume in October for the first time since the pandemic began.Why it matters: Americans with student loan debt tend to be younger and make lower incomes. They&#x27;re spending a higher share of their income already, so an additional monthly payment will hurt, <a class="gtmContentClick" data-vars-link-text="Axios Markets reporter Emily Peck writes" data-vars-click-url="https://www.axios.com/2023/07/10/student-loan-payments" data-vars-content-id="db0858b7-526d-44b5-ae62-b73f2316c25f" data-vars-headline="Student loan relief ending for at least 1.6 million Floridians" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/07/10/student-loan-payments" target="_self">Axios Markets reporter Emily Peck writes</a>.

Education

Data: Zillow; Note: Typical home value refers to the average of the middle third of Zillow home value estimates for every home in a given region; Map: Erin Davis/Axios Visuals

Real estate prices are all about "location, location, location," and right now that's particularly true — in half the country home prices are falling, including in Miami. 

In the other half, they're still going up.

Why it matters: The price data shows that the housing story is more complicated than affordability and still-high mortgage rates, which have cratered demand nationwide.

Ultimately, this tale of two housing markets is all about supply. In the places facing shortages of available homes, and less newly constructed housing, prices are holding up.

Zoom in: In Miami, home prices are down 3.8% year-over-year, according to Zillow.

Zoom out: In the Tampa metro area, the price of the typical home was down nearly 6% this June.

Meanwhile: Areas in the South, particularly Texas and Florida, that had lots of new construction over the past few years, are seeing prices fall.

And it's not just new homes; existing homeowners in these regions are also looking to sell and leave behind higher insurance costs, and climate risks.

"In places like Florida and Texas, they're kind of tired of hurricanes," says Chen Zhao, head of economic research at Redfin. These folks are putting their homes on the market.

Home prices fall in Florida, rise in Midwest and Northeast

Home prices in Miami are down almost 4% year-over-year.

Real estate prices are all about &quot;location, location, location,&quot; and right now that&#x27;s particularly true — in half the country <a class="gtmContentClick" data-vars-link-text="home prices" data-vars-click-url="https://www.axios.com/2025/04/25/housing-home-sales-mortgage-rates" data-vars-content-id="dba4a6e1-57dc-4cf7-b740-9607a5eac2d6" data-vars-headline="Home prices fall in Florida, rise in Midwest and Northeast" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/04/25/housing-home-sales-mortgage-rates" target="_self">home prices</a> are falling, including in Miami. <ul><li>In the other half, they&#x27;re still going up.</li></ul>Why it matters: The price data shows that the housing story is more complicated than affordability and still-high mortgage rates, which have <a class="gtmContentClick" data-vars-link-text="cratered" data-vars-click-url="https://www.axios.com/2025/06/27/ice-trump-tariffs-home-sales" data-vars-content-id="dba4a6e1-57dc-4cf7-b740-9607a5eac2d6" data-vars-headline="Home prices fall in Florida, rise in Midwest and Northeast" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/06/27/ice-trump-tariffs-home-sales" target="_self">cratered</a> demand nationwide.

Real Estate

Florida has one of the highest populations of immigrants working in hospitals, according to census data analyzed by KFF. 

Why it matters: The health care industry is facing a double challenge — a White House immigration crackdown that could translate to worker shortages, and the "big, beautiful bill," which pulls back federal health care spending.

Meanwhile, an aging population will require more care.

The big picture: The nation's hospitals rely heavily on an immigrant workforce — in some states, more than a quarter of hospital workers are either naturalized citizens or noncitizen immigrants, data show. 

Zoom in: In Florida, nearly 27% of hospital workers are immigrants — only behind California (32%), New York (29%) and New Jersey (29%). 

Nationwide, 16% of hospital workers are immigrants — roughly in line with the share of the workforce that's foreign-born.

Between the lines: There are already shortages of doctors in certain areas and within certain specialities, as well as an overall workforce shortage. Reducing the number of immigrants in the U.S. could make that worse.

And it's not just physicians. Immigrants account for a high share of the cleaning and maintenance staff in hospitals — close to 30%. 

"If there aren't enough workers, hospitals may need to limit services," says Scott Hulver, a policy analyst at KFF.

State of play: Hospitals are one of the big losers from the new spending bill, taking a major hit from Medicaid cuts and changes to the Affordable Care Act, report Axios' Peter Sullivan and Victoria Knight. Millions are likely to lose their health insurance.

This will mean more uninsured people and more uncompensated care.

The bottom line: Since the passage of the ACA in 2010, more people have had access to health care and the industry exploded, hiring surged and more workers were in demand.

Now momentum is moving in the opposite direction.

In Florida's hospitals, more than 25% of workers are immigrants

Nationwide, 16% of hospital workers are immigrants.

Florida has one of the highest populations of immigrants working in hospitals, according to census data analyzed by KFF. Why it matters: The health care industry is facing a double challenge — a White House immigration crackdown that could translate to worker shortages, and the &quot;big, beautiful bill,&quot; which pulls back federal health care spending.

Health

Anthropic renews a certain kind of AI investors' faith

National

The oil risk premium shoots up

A line chart that tracks daily Brent crude futures per barrel from Oct. 23, 2025, to Oct. 23, 2026. Prices fell from $65.99 to a low of $58.92 on Dec. 16, 2025, then climbed unevenly to a high of $116.25 at the end, with sharp spikes in March 2026.

Brent crude futures

Data: Financial Modeling Prep; Chart: Emily Peck/Axios

Munis are hot right now: And there's plenty to go around

A line chart that shows rolling 52-week municipal bond issuance from Jan. 7, 2011, to Oct. 16, 2026. Issuance measured $401.3 billion at the start, fell to $305.4 billion in December 2014, rose to $352.7 billion in November 2018 and reached $611.8 billion by October 2026.

State and local muni bond issuance

Data: Bloomberg data compiled by muni bond analyst Matt Fabian; Note: Includes new and refinanced debt; Chart: Emily Peck/Axios

Young Americans are losing faith in the future — and Trump

A bar chart that shows what drives likely U.S. voters ages 18 to 29 in their 2026 midterm vote. Opposition to Trump leads at 63%, followed by Trump not a factor at 17%, support of Trump at 14% and not sure at 6%. Survey dates were Sept. 30 to Oct. 7, 2026.

Emily Peck

Featured stories

Anthropic renews a certain kind of AI investors' faith

The oil risk premium shoots up

Munis are hot right now: And there's plenty to go around

Young Americans are losing faith in the future — and Trump

A majority of Americans have low-quality jobs