The Cost of Winter

Posted: 2/16/2014

We all know this winter has been extremely severe, with record low temperatures and lots of snow. It has been an unpleasant season for most Americans, but is there more to it? When work, school and other daily activities turn into chaos, winter can also be very costly.

With workers having to call off of work and reduce their hours due to commute delays and other inconveniences, there is less money and people aren't shopping as much as usual. Another factor that contributes to poor sales is that some groups, such as elderly citizens, struggle just to leave their homes and go to stores. Companies such as Ford, GM, Walmart and Whole Foods have blamed the weather for weak sales, and had to reduce hiring in December and January.

According to airline specialists, this year's flight cancellations are the worst since the air-space was shutdown after the terrorist attacks in 9-11, which translates into a $ 3 billion cost for passengers all over the country.

Economists estimate that the winter storms have taken approximately $ 15 billion out of U.S. Businesses so far. Economic growth forecasts are still inaccurate, but specialists already agree that the weather is definitely one of the factors for smaller numbers.