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u.s. economy spring forward economic index ben franklin

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#1 Hum

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Posted 12 March 2013 - 15:13

Did you remember to set your clock forward on Sunday? Of course, it doesn’t really matter since most of us operate on digital devices like our smartphones that do the one-hour adjustment automatically.

But as easy as it is, the annual switch to daylight saving time reportedly continues to be a costly endeavor, resulting in a net loss of $433,982,548 for the U.S. economy.

The Lost-Hour Economic Index breaks down the economic loss state by state across the top 360 metropolitan areas, saying it's due to a number of factors, including fatigue. Some markets in Hawaii and Arizona were excluded form the methodology because they do not participate in daylight saving time.

All in all, the annual spring forward is a step back to our bank accounts, though the actual per capita numbers are not as stark as the totals suggest. Still, in this economy, every dollar counts—maybe even more than that lost hour of sleep.

According to the index, Morgantown, W.Va., suffered the greatest loss per capita, with each person losing about $3.38 during the time switch. Least affected? Provo-Orem, Utah, where each person only lost about 97 cents.

En masse, the New York/Northern New Jersey/Long Island area was most affected, losing an estimated $29,682,674.

All in all, a pretty expensive time change for what is supposed to save energy. Maybe the conspiracy theorists are right and Ben Franklin has been laughing in his grave for centuries.

source


#2 bdsams

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Posted 12 March 2013 - 15:17

This study is the biggest buch of Sh&* ever. It makes it seem like we took the money and burned. We didn't lose anything, and no business went under because of it.

#3 OP Hum

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Posted 12 March 2013 - 15:20

Seems to me the opposite should happen in the Fall. :laugh:

#4 HSoft

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Posted 12 March 2013 - 15:22

If they are trying to justify it in this way, then what happened to the interest on the debt that the US owes? Did we gain or lose an hours worth of interest?

#5 margrave

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Posted 12 March 2013 - 15:22

regardless of if the study is bull or not, I don't think daylight savings serves much of a purpose anymore. It's time to pick one and stick with it.

#6 Astra.Xtreme

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Posted 12 March 2013 - 15:24

How exactly is that much money being lost? The article fails to even attempt to explain the reasons why.

#7 hamslammer

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Posted 12 March 2013 - 15:25

regardless of if the study is bull or not, I don't think daylight savings serves much of a purpose anymore. It's time to pick one and stick with it.


I'm totally with you for this idea. Personally, I'm all for staying on daylight savings time year round.

#8 OP Hum

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Posted 12 March 2013 - 15:26

How exactly is that much money being lost? The article fails to even attempt to explain the reasons why.


^ I'm guessing because businesses either close or open an hour later.

Which does not make much sense -- people are still going to buy gas, food, etc. at some time.

#9 remixedcat

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Posted 12 March 2013 - 15:27

IT MESSES WITH LACTATION SCHEDULES!!!

#10 ahhell

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Posted 12 March 2013 - 15:35

How exactly is that much money being lost? The article fails to even attempt to explain the reasons why.


...Because Obama, of course.

:rofl:

#11 Secular Humanist

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Posted 12 March 2013 - 15:46

Not sure about some of you, but do you know the purpose of daylights savings switching? You like the sun coming up at 5 am and going down at 6pm? Read between the lines: daylight SAVINGS time. Don't see how anyone could be against the simple logic behind it.

article is bull**** too, since when you go to forward an hour in the fall you "gain" the loss back.

#12 Steven P.

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Posted 12 March 2013 - 15:50

...Because Obama, of course.

:rofl:


Thanks, Obama!

#13 stumper66

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Posted 12 March 2013 - 15:55

Not sure about some of you, but do you know the purpose of daylights savings switching? You like the sun coming up at 5 am and going down at 6pm? Read between the lines: daylight SAVINGS time. Don't see how anyone could be against the simple logic behind it.

article is bull**** too, since when you go to forward an hour in the fall you "gain" the loss back.


Exactly.
I don't use lights in the morning because it's already light. I turned my house lights around 7pm before the daylight savings switch. Now it's around 8pm. That's one hour of not using any lights in the house that I'm saving money on. Also it's awesome to have an extra hour of sunlight after work that I can enjoy outside.

#14 FloatingFatMan

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Posted 12 March 2013 - 15:56

^ I'm guessing because businesses either close or open an hour later.

Which does not make much sense -- people are still going to buy gas, food, etc. at some time.


Except they don't. By the clock, they open & close at exactly the same time.

Article is gibberish. No money is lost due to DST.

#15 thomastmc

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Posted 12 March 2013 - 16:19

The only businesses hurt by DST are bars and pubs when they have to close an hour early on Sunday mornings.

It also increases energy savings since most businesses and households use their lighting in the evenings more than the early mornings.