A US freight rail strike could cost the US economy $1 billion in the first week of the strike, according to a new analysis
In the first three days alone, US workers and consumers could see potential losses of a quarter billion dollars as a transit strike involving rail is one of the most expensive and disruptive events that can happen to the economy. “Economic impacts caused by a national railroad strike include lost wages for the industry’s workers and production slowdowns due to non-delivery of critical components in some vulnerable industries,” the report from Anderson Economic Group said.
8 million for long-term passenger rail disruption and $25 million in lost railroad industry wages,” the analysis revealed. It does not include indirect effects or losses on other industries or income losses for rail company investors and managers. Second and third day strike losses would increase to $91 billion per day because of lost agricultural goods and food spoilage.
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