COST OF DAYLIGHT SAVING TIME TO U.S. ECONOMY: $433,982,548

18154352-daylight-saving-time-begins-icon-of-an-electronic-clock-and-a-pointer-spring-forward-vector-illustra

That’s right; according to Chmura Economics & Analytics, the abrupt leap forward cost us just under half a billion dollars in 2010.

Chmura researchers used data cited from the sources listed below to assess the impact of daylight saving time (DST) on the incidence of heart attacks, construction-related work injuries and on “cyber loafing,” the tendency of employees and others to engage in aimlessly surfing the internet.

The information was then broken down by region to create the Lost-Hour Economic Index, a measure of the financial loss suffered by 360 major cities in the US.  The average loss was $1.70 per capita.

Chris Chmura, President and Chief Economist for Chmura Economics & Analytics said, “The markets that see the largest per capita economic loss in this index are heavily concentrated in West Virginia and Florida where it appears higher heart attack rates and the impacts of workplace injury due to mining and construction are most acute.”

While the main point of losing an hour of sleep was to save energy, research from Indiana, in which until recently only 15 of the state’s 92 counties observed DST, suggests DST fails to deliver that benefit.

University of California-Santa Barbara researchers compared the electric meter readings registered during the time period before springing forward to the overall usage after the time change.  They found that residents had paid $8.6 million more than they would have had they stayed on Standard time.

These findings point to the extent to which the US has become an indoor society, squandering that extra hour of sunlight on using lights, TVs, air conditioners, computers and other electronic gadgets that are as much a part of our way of life as are the clothes we wear.

Source:   Smart Planet Daily, March 13, 2013               Study based on data from articles published in The New England Journal of Medicine and The Journal of Applied Psychology

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s