New Study: Hot Days Are Worse for The Economy
Posted: Feb 21, 2015 7:51 PM CDT
Believe it or not, there's a new study out indicating hot days are actually bad in terms of economics. It's been determined productivity in the U.S. decreases 1.7% for each 1.8°F increase in temperature above 59°F. This means a weekday above 86°F costs an average of $20 per person.
Hot days, it's been proven, kill growth during the weekdays because of negative impact on agriculture and people work less effectively, despite air conditioning, when it's hot (and humid.)
It's also well known hot counties are poorer than cold ones.
Keep in mind the exact measure of economic output can't be measured on any given day. Instead, the Bureau of Economic Analysis data is used on a yearly basis.