Evan Gold of weather intelligence firm Planalytics called the storm and the low temperatures the worst weather event for the economy since Hurricane Sandy just over a year earlier. 200 million people were affected, and Gold calculated the impact at $5 billion. $50 to $100 million was lost by airlines which cancelled a total of 20,000 flights after the storm began on January 2. JetBlue took a major hit because 80 percent of its flights go through New York City or Boston. Tony Madden of the Federal Reserve Bank of Minneapolis said with so many schools closed, parents had to stay home from work or work from home. Even the ones who could work from home, Madden said, might not have done as much. Not included in the total were the insurance industry and government costs for salting roads, overtime and repairs.
