Most of us probably don’t think about the impact not getting enough sleep can have on our pocketbooks and the economy as a whole.
According to the Centers for Disease Control and Prevention, 38.8% of adults in Florida are getting less than the recommended seven hours of sleep a night.
Randall Croom, associate professor of management at Stetson University, said there is an economic impact to not getting enough sleep.
“One of them is that productivity isn't as good,” he said. “People are not as successful at work, not as productive at work, and they are more prone to errors, including safety related errors.”
The CDC reports that sleep deprivation has been linked to chronic diseases, and Croom said that can result in higher costs for businesses that pay for health insurance.
“Health insurance is often pooled at the employer level; that affects everyone that works there, not just the people who are sleep-deprived,” he said.
According to a report in the Review of Economics and Statistics, getting one additional hour of sleep a week increases earnings by 1.1% in the short term and 5% in the long run.
Croom said that shows there are economic returns to a good night's rest.
“If we take this 1% to 5% earnings increase, and we also juxtapose it against the various losses that people experience when they're not sleeping enough, (it shows) sleep is an economically rational thing to do,” he said. “You're going to perform better, you're going to perform more, you're going to incur less cost. You're going to generally see better earnings.”
Who sleeps well in Florida?
Across Central Florida, Sumter County reports 33.7% get less than the recommended seven hours of sleep while Seminole County’s rate sits at 34.3%, which makes them among the best rested, according to the CDC, as Marion County is among the worst with 37.7% of people who live there getting less than the recommended amount of sleep.
Croom said so few people getting enough sleep doesn’t bode well.
“And it is, I think, a significant problem that is probably in some ways exacerbated by the prevalence of shift work we have, the amount of tourism and nightlife that is an important part of our economy," Croom said.
The amount of sleep an individual needs changes with age, but Croom said there are other factors that play a role in how well someone sleeps.
“Living in an area with poor economic circumstances can result in sleep loss through stress, uncertainty and financial worry,” he said.
A report in Social Science Research finds that people who live in areas with high unemployment sleep less than comparable individuals in areas with low unemployment.
“Even when it comes to sleep, there are haves and have-nots,” he said. “And we can aggravate or exacerbate the effects of poverty, financial vulnerability and the stress that is associated with them due to people not being able to get the sleep that they need to do better and to feel good.”
Finding ways to get better sleep
There are several approaches to finding a better night’s sleep.
You can do a sleep study test, or polysomnogram, but that can be pricey. In Florida, costs range from about $1,800 to more than $2,000.
Before spending money to sleep better, the University of Florida Institute of Food and Agricultural Sciences has a few tips, such as paying attention to your sleep schedule.
“That's key, getting up at the same time each day, going to bed about the same time each day. And the best recommendation is even maintaining that consistency through the weekends,” said Croom.
UF/IFAS also suggests paying attention to the timing of dinner, caffeine, avoiding blue lights before bed, exercising, room temperature and having a wind-down routine.
“Anyone who wants to take their career and wellness to another level this year, one New Year's resolution or change that you might actually be able to keep, it's just going to bed,” said Croom. “It's one of the lowest-cost and yet most beneficial health interventions that you can do for yourself. It also is one that can help your performance and your productivity achieve new heights.”
More sleep resources can be found on the CDC’s website.
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