Subway Delays Cause Huge Financial Losses

With the NYC subway racking up record delay and breakdown numbers, city officials are worried about the loss of commerce caused by commuters missing appointments, being late for work, and being forced to pay for an Uber or Yellow cabs.

n a 1981 study conducted by the New York Federal Reserve Bank, a subway ride that took an extra 5 minutes cost employers and workers $116,000,000 million dollars based on the number of riders and the amount the average worker made per hour.

Using the same formula today, but adjusting for the increase in wages and commuters, employers and workers lose 1.1 BILLION dollars a year.

Subway travel was delayed 78,500 times in March of this year. That's a 14% rise over March of 2015.

Nearly 6 million people ride the subway every day in NYC.

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Photo Credit: Getty Images

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