October 13, 2017
6sqft recently covered a report released by the city's Independent Budget Office that analyzed the impact of a growing number of subway delays and found that subway downtime could be costing the city up to $389 million annually in lost wages and productivity for businesses. According to the New York Times, the problem is getting worse, and it's affecting everyone's earnings. The cost of subway delays on a typical workday morning translates to $864,000 a day in lost work time for intra-city commuters, $257,000 for commuters who live beyond city borders and $109,000 for subway riders traveling for reasons other than work. The total daily cost: about $1.23 million. Multiplied by 250 working weekdays a year, that adds up to about $307 million that New Yorkers lose in work time every year.
Find out more