CHICAGO, Oct. 27 (UPI) -- A Chicago outplacement consultancy says ordinary flu strains could cost U.S. employers this year nearly $8 billion.
Common influenza strains are expected to infect 15 million to 60 million U.S. residents this winter with the potential of as many as 70 million missed work days at a cost of nearly $8 billion, Challenger, Gray & Christmas Inc. said in a report released Thursday.
"These are the losses in a 'normal' flu season and they do not even take into consideration the additional losses related to reduced output, lost sales, damaged morale and the cost of hiring temporary workers. Imagine if there were an outbreak of a new flu strain that could not be contained with the vaccines on hand," said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
"If the outbreak reaches pandemic proportions, as is the fear with the avian flu, we will be facing not only unscheduled workplace absences but catastrophic economic consequences related to skyrocketing health care costs, plunging travel and tourism, a sharp decline in retail sales and a significant drop in consumer confidence."
The U.S. flu season typically runs from November through March.
