Subway delays could cost the city’s economy up to $389M annually
Image © 6sqft
New York City Comptroller Scott Stringer released an analysis on Sunday that found the economic cost of subway delays could range from $170 million per year to $389 million in lost wages and productivity for businesses. The comptroller’s office used data from the MTA that looks at train schedules, passenger volumes and wait assessments by each subway line (h/t NY Times). Stringer’s analysis listed five subway lines that cause the biggest economic losses: 5, 7, A, F, and 4 trains. During a news conference Sunday, Stinger said, “The summer of hell is turning into the fall of frustration for subway commuters.”
The subway lines that cause the biggest economic losses for the city, via NYC Comptroller’s Office
While delays and overcrowded subway cars cause personal issues for straphangers (missing doctor’s appointments, being late to pick up children), train delays impose economic costs. Stringer’s analysis looks at MTA data and then factors in an hourly wage of $34 an hour, the city’s average, to convert the delays into a dollar amount. The report categorizes delays by “minor,” 25 percent to 50 percent longer than the scheduled time, “medium,” between 50 percent and 100 percent over scheduled time and “major,” which includes delays over 100 percent over the scheduled time.
As 6sqft previously covered, New Yorkers employed by the city missed 17,143 hours of work because of transit delays and malfunctions, according to an analysis by the Independent Budget Office. City workers are on track to miss nearly 26,000 hours of work for the entire year, an increase of almost 30 percent from previous years.
In July, the MTA announced a more than $800 million emergency rescue plan after Governor Andrew Cuomo declared a state of emergency for the subway system. The state-run MTA’s plan includes taking seats out of the most crowded cars and stationing additional first responders and police to quickly remove sick passengers. The authority’s chairman, Joseph Lhota, and Governor Cuomo have called on Mayor Bill de Blasio and City Hall to help pay for the multi-million emergency plan.
De Blasio has so far refused to put more money into the subway, claiming the MTA has a lot of money from the city they are not spending on the subways. On Sunday, Stringer said the city and state need to work together to find a solution to the transit crisis. According to the Times, Stringer said the city should help pay for the MTA’s plan, but with proper oversight of the funds provided. Read the City Comptroller’s full report here.
[Via NY Times]
RELATED:
