Guest Column: India Farm Bills 2020- Return to the Days of Champaran Struggle  |  Guest Column: Before Covid, After Covid  |  Guest Column: India Should Give Martyrdom Status to Covid Warriors  |  International Edu News: New Antibiotic against Drug-Resistant Bacteria  |  National Edu News: Webinar on “Faculty Development for Quality Education”  |  Science Innovations: Scientists find a new model to probe how black holes rip apart starts  |  Leadership Instincts: The NEP to make India a 'knowledge power'- Education Minister  |  International Edu News: Timely Financial Help for NTU Singapore Students  |  Leadership Instincts: Innovation = Ideas + Implementation  |  Education Information: Several schemes to encourage students towards the field of science & technology  |  Leadership Instincts: First ever AICTE - Visvesvaraya Best Teachers Award 2020  |  National Edu News: Digital India Corporation observes Engineer’s Day  |  Education Information: The NCERT eight-week alternative academic calendar for the secondary stage   |  Leadership Instincts: 16,99,931 School Heads and Teachers got training under NISHTHA in 2019-20  |  Leadership Instincts: Ministry of Education ensures Quality Education to students across the country  |  
August 22, 2017 Tuesday 02:05:37 PM IST

Loss of $700mn as workers watch eclipse in US

Finance

Washington: US companies may lose upto $700 million due to lost productivity as employees put aside their work to witness the once-in-a-century solar eclipse, according to a top business person.

Workers took at least 20 minutes on Monday to watch the solar eclipse, Andy Challenger, vice president of Challenger, Gray and Christmas, an outplacement firm, said.

The rare astronomical event, known as Great American Eclipse, was observed throughout the whole country, and a total solar eclipse was witnessed in 14 states, reports Xinhua news agency.

"There are very few people who are not going to walk outside when a celestial event of such kind takes place," Challenger said, estimating that 87 million employees were working during the eclipse.


To get the cost for employers, Challenger multiplied the figure of working employees by the estimated watching time and the average hourly wages estimated by the Bureau of Labour Statistics.

"Compared to the amount of wages being paid to an employee over a course of a year, it is very small," Challenger said. "It's not going to show up in any type of macroeconomic data."

The US mainland has not seen a total solar eclipse since 1979, when it swept a handful of northwestern states. The country's last total solar eclipse stretching from coast to coast took place in 1918.

This time, US space agency NASA provided a live webcast of the event, using 11 spacecraft, at least three NASA aircraft and more than 50 high-altitude balloons.


Comments