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 from 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.