The storm that hit the East Coast over the weekend likely cost businesses and residents about $2.5 billion to $3 billion.
That estimate comes from Moody's Analytics, which estimates most of the cost of the storm is from businesses that lost sales and employees that lost wages when they could not get to work. Those losses were partly offset by people who earned extra wages due to the storm, such as workers who got overtime for plowing roads and parking lots.
Also, this storm's damage to property and infrastructure was limited, according to AIR Worldwide, which comes up with estimates for insured losses, although some flooding was reported, particularly along the New Jersey shore.
All things considered, the first big snowstorm of 2016 was relatively inexpensive.
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4 comments:
Just wondering....since I wasn't able to go out and spend last weekend, but go out this weekend and spend twice as much, does that eliminate the estimated $2.5 - $3 Billion loss?
Analytics - the new buzz word in the 2010's...prior to that it was Analysis, prior to that Estimation, prior to that Estimate, prior to that a simple Guess.
Its all just a SWAG hon!
The number Moody's cited is pure bunk!
They are double counting things that would have been done with or without the snow.
Here we go again.
Saw this coming.
Now it's time to start crying about how much money it cost so now we need more $$$$$$
Government are nothing but a bunch of cry baby crooks.
They couldn't even run a simple lemonade stand to save themselves.
Maybe when we have our next snow storm how about we just give all politicians each a snow shovel (and no equipment) and let them all shovel there way out like the working man does and let's see how well that works out for them.
Bet they couldn't do it.
That would be my story, and I would stick to it! See how much we can milk the Federal Taxpayers for to fund our State!
We don't really care to count the real dollars.
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