Daylight Saving Time (DST) not only affects people's sleep patterns and daily routines but also has economic implications. According to a study, the economic impact of DST in all metropolitan statistical areas in the US is estimated to be just over $670 million. The study found that the loss of sleep after the change to DST is associated with an increase in heart attacks, strokes, workplace injuries, and traffic accidents. These health risks contribute to the economic cost of DST, which includes both direct costs, such as medical expenses, and indirect costs, such as lost wages and productivity due to injuries [0ae4df4a].
The Texarkana, Texas-Arkansas metropolitan area is projected to have the highest per capita cost from DST at $7.76, surpassing the national average of $2.73. The Richmond metropolitan statistical area (MSA) is ranked 209 at $2.47, below the national average. Washington D.C. is ranked 358, and Virginia Beach is ranked 147 at $2.75 [0ae4df4a].
The economic impact of DST extends beyond the health risks. Studies have shown that changing the clocks twice a year has adverse effects on the economy. Slower investor response to accounting reports, increased cyberloafing, and higher energy consumption are among the negative consequences. These collective impacts are estimated to cost the US economy over $433 million [2ea25b9c].
The negative impacts of DST have prompted legislative efforts to end the biannual clock changes. Lawmakers in New York are proposing bills to make DST permanent, citing health effects and lost productivity due to the time change. The bills propose using DST year-round, but a final version could make standard time permanent instead. Lawmakers are also working with neighboring states to develop a federal plan. This move to make DST permanent is being considered by 30 states across the US [959f3ae9].
The idea of ending the clock changes has gained traction at the federal and state levels. A group of 12 bipartisan senators, led by Democrat Ed Markey and Republican Marco Rubio, are making a new legislative effort to make DST permanent and end the twice-annual changing of clocks. In March 2022, the US Senate passed legislation that would have made DST permanent starting in 2023, but it was never voted on in the House of Representatives. The senators have reintroduced the legislation just ahead of the resumption of DST. Supporters argue that not putting back the clocks in autumn would enable children to play outdoors later and reduce seasonal depression, while critics say it would force many children to go to school in the dark. President Joe Biden has not taken a position on the issue. The bill would allow Arizona and Hawaii, which do not observe DST, to remain on standard time, as well as American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the US Virgin Islands [f3382b5f].
The debate over DST and its economic and health impacts continues. While some argue that DST provides benefits such as more daylight in the evenings, increased retail sales, decreased robberies, and a decrease in pedestrian fatalities around dawn and dusk, others highlight the negative effects on sleep patterns, productivity, and overall well-being. The discussion around DST and its potential permanent implementation remains a topic of interest at both the state and federal levels [0ae4df4a], [2ea25b9c], [959f3ae9], [f3382b5f].