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What are the economics of Leap Year?
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January 31st, 2016
There’s an extra day this month, in case you haven’t been paying attention.
It seems like people who get paid hourly will do a little better in February, because they’ll be working an extra day that, in previous years didn’t exist.
On the other hand, salaried people are working an extra day without any additional compensation, so they’re losing out.
One would expect that almost all retail would show a 3.5% increase in income (½8) over last year’s February figures, since, again, there’s an extra day.
I wonder if that’s true.
What other economic effects are there as a result of Leap Year?
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