Watchers 'could cost United States bosses $947m'

The losses will be offset in part by the millions of other people who are travelling to see the phenomenon and will be bringing in added business to the area 

It may be a once-in-a-lifetime event, but next Monday's total eclipse of the sun will cost US companies hundreds of millions of dollars in lost productivity.

On Monday, August 21, 2017, a total solar eclipse will be visible across the entire United States.

Based an analysis of U.S. Bureau of Labor Statistics, the worker outplacement firm Challenger, Gray & Christmas, Inc. estimates that employers could lose as much as $694 million because of the solar eclipse, which occurs during a workday, company representatives said in a statement.

CGC released data in support of an estimated $700 million in lost productivity to its website in the form of a press release.

If you take 87 million estimated workers, subtracting the cost of 20 minutes of unproductive time from the average hourly wage of $23.86, you get a figure of $7.95 per worker for those 20 minutes. Challenger, Grey estimates that the eclipse will cost the Chicago area $28 million, for example. At Purch's headquarters in Ogden, Utah, employees will head outside to experience their own partial eclipse.

"A loss of productivity does not necessarily mean that good things can not come out of this eclipse".

"That is not to say employers need to board their windows and keep employees locked up in conference room meetings until the eclipse ends", said Andrew Challenger, Vice President of Challenger.

However, Challenger said that this was still a small sum.

"Since this is happening over the lunch hours, the financial impact is minimal". Experts are encouraging employers to make the best of the situation by holding viewing parties and other team-building activities.

"Compared to the amount of wages being paid to an employee over a course of a year, it is very small", Challenger said. And then there's Jim, who's just going to call it a day when the the big show starts. Online shopping is also a big distraction for workers, with Career Builder claiming in 2016 that 53 percent of employees shop online during work hours.

The next solar eclipse visible from parts of the US takes place on October 14, 2023.

Related News:

  • Putin Appoints Deputy FM Antonov as New Russian Ambassador to US

    Putin Appoints Deputy FM Antonov as New Russian Ambassador to US

    Putin's order relieves Sergei Kislyak of his duties as ambassador and Russia's permanent OAS observer. From 2011 until late past year , the former Soviet military leader was deputy defense minister.
    Taylor Swift New Music Speculation Sparked By Social Media Move

    Taylor Swift New Music Speculation Sparked By Social Media Move

    On Aug. 18 of that year, she premiered " Shake It Off " and announced the upcoming release of her first pop album, 1989. The post in question is a rather dark, very short video featuring what looks like a spiky reptile tail wagging.
    Bill Cosby hires Michael Jackson's LA lawyer for sex-case retrial

    Bill Cosby hires Michael Jackson's LA lawyer for sex-case retrial

    One of those issues will be whether Cosby, 80, wants the new jury panel to be selected from residents outside the county. According to Page Six , both McMonagle and Agrusa are expected to be officially released from the case on Tuesday.
  • Secret Service: Trump's Not Our Only Problem

    Secret Service: Trump's Not Our Only Problem

    It seems like every single weekend features a trip out of Washington and to whatever Trump property he feels like golfing at. More than 1,000 agents have already met the cap for salary and overtime that was suppose to last the agency the whole year.
    OnePlus 5 8GB variant now available in Slate Gray color

    OnePlus 5 8GB variant now available in Slate Gray color

    During this week, the new variant of OnePlus 5 also went live, giving the fans of Slate Graycolor, more options. Moreover, now with the new color option, design and performance make the OnePlus 5 the actual flagship killer.
    Aamir Khan all praise for 'Secret Superstar' director

    Aamir Khan all praise for 'Secret Superstar' director

    The " Dangal " star also shared that Zaira learned how to play guitar for the film and spent a lot of time learning how to sing. The song has been beautifully portrayed and goes along with the story of the film.
  • Walmart will use Uber to Deliver Groceries

    Walmart will use Uber to Deliver Groceries

    Walmart's online grocery delivery expansion on the other hand will be completed through a partnership with Uber. Walmart operates its own grocery delivery system in San Jose, California, and Denver.
    Bannon's departure has huge implications for the US-China relationship

    Bannon's departure has huge implications for the US-China relationship

    The probe will likely further complicate the US relationship with China, the country's largest trading partner. The initiation follows upon President Trump's Memorandum of August 14, 2017 instructing the U.S.

    3 Entertaining Ways to Improve Your Business Skills over the Coming Weeks

    In both games and business meetings you may feel everything from frustration to elation, but the trick is to keep is all hidden. Play Poker While millions of people around the world may play poker solely for fun, you can also play to up your business game.
  • The Sims 4 Cats & Dogs expansion pack brings pets on November 10

    The Sims 4 Cats & Dogs expansion pack brings pets on November 10

    Even though The Sims 4 debuted three years ago, it's seen 20 percent growth month-over-month in monthly active users on PC. There's also a new coastal world to live in.
    University of Texas removing three Confederate statues

    University of Texas removing three Confederate statues

    Fenves said he made the decision to remove the statues after a discussion with students, university staff, and alumni. Lee , Albert Sidney Johnston , John Reagan and James Stephen Hogg were removed from the university's Main Mall.
    Moon Jae-in warns North Korea against provoking during military drills

    Moon Jae-in warns North Korea against provoking during military drills

    But, the KCNA report also stated that Mr Kim could revive plans to attack the United States if the military drill went ahead. Kim would "watch a little more the foolish and stupid conduct of the Yankees", a North Korean statement said last week.


Most liked

CBB fans in shock as Sarah and Chad get frisky
Sarah Harding and Chad Johnson got intimate during their first night in bed together on Sunday night's (20Aug17) Celebrity Big Brother .

FSU leads four state teams in the AP preseason Top 25 poll
The Sooners, who are coming off a second straight Big 12 title and a Sugar Bowl victory, accumulated 1,170 points in the poll. The Tigers beat Alabama in the final seconds of last season's national championship game.

Burnley break club transfer record to sign Chris Wood for £15 million
In this case, the young striker is 19 year old Jay-Ray Grot, a Netherlands U19 worldwide who now plays at Dutch club NEC Nijmegen. Wood scored 27 goals in the second tier Championship for Leeds United last season and in 88 games for Leeds he scored 44 goals.

Birmingham to land two Arsenal stars on loan
An announcement on the Blues' website described Jenkinson as an "athletic right-back" and Bramall as a "pacy left-back". Bramall joined Arsenal in January from non-league Hednesford Town in a deal that caught the attention.

United States to suspend nonimmigrant visa operations in Russian Federation
The order to expel U.S. diplomatic staff "calls into question Russia's seriousness about pursuing better relations", the U.S. He promised that Moscow would not take out its anger on ordinary US citizens, Vestnik Kavkaza reports.

Iraqi forces close in on IS-held town west of Mosul
As Isis (Islamic State) is driven out of Iraq and Syria, militants in the last throes of battle are turning to P in desperation. Meanwhile, the United Nations has warned that thousands fleeing the area are at risk, trekking for hours in extreme heat.

'Zero Chance' US Congress Does Not Raise Debt Ceiling - McConnell
During the event McConnell promised that Congress would send a "clean" raise to the debt limit. One key item Mnuchin wants addressed by Congress upon their return is raising the debt limit.

Harry Kane 'not bothered' by inability to score for Spurs in August
While Conte revelled in the atmosphere, Spurs boss Mauricio Pochettino refused to believe Wembley was a factor in the loss. But what separated the two sides, in the end, was their efficiency in front of goal that secured Chelsea the three points.

Secret Service Investigating Trump Assassination Comment
The post, which was later deleted, was written in response to another comment which called for the president to be impeached. When she posted the original comment on Facebook, Chappelle-Nadal said she made the comment out of "trauma and despair".

Manchester City vs Everton
It's week two of the new Premier League season and it's seventh against 10th as Pep Guardiola's boys take on Ronald Koeman's army. The clash between these two teams will close out the Week 2 fixtures, following another busy weekend last Saturday and Sunday.

Global cricket returns to Pakistan
A 15-member World XI squad will take part in a 7-day long camp in Dubai before heading to Lahore for the series. The West Indies cricket team will be touring Pakistan for a three-match T20 series in late November this year.

3 children die in Raipur hospital; CM Raman Singh orders probe
Vishwakarma had come from Balaghat district of Madhya Pradesh for the treatment of his niece. Three children died on Sunday allegedly due to lack of oxygen supply at Dr.

Powerball jackpot jumps to $650M after no victor in Saturday's drawing
The largest Powerball jackpot of all time still stands at a whopping $1.586 billion dollars set back on January 13, 2016. The current record holder is Donald Lawson of Lapeer, who won a $337 million Powerball jackpot on August 15, 2012.

US, South Korea to begin military exercise from Monday
North Korea is a useful buffer state for China between it and USA forces based in South Korea, and also across the sea in Japan. China, North Korea's main ally and trading partner, has urged the United States and South Korea to scrap the exercises.

Will Fiorentina continue the fight?
Another 16 goals brought Lorenzo Insigne, 13 goals went from Jose Callejon and 11 from Marek Hamšík. Forecasts Bookmakers consider Napoli as the main favorite - the coefficient for the victory of the hosts is 1.28.