Quit working for free
Take your vacation time and be more productive. From CBS MoneyWatch.
Americans apparently love -- or fear -- work so much that they end up volunteering to work for their employers.
Workers skipped 169 million days of paid time off last year, forgoing vacation time that couldn't be rolled over, couldn't be paid out, nor banked or substituted for another benefit, according to an analysis from the U.S. Travel Association conducted by Oxford Economics. Those skipped vacation days have an economic value of $52.4 billion, with each vacation day equal to $504 per employee, the study found.
While Americans have always tended to forego vacation days, the trend is worsening, with last year representing a low point in the last four decades, the survey found. Workers are often fearful of falling behind, while almost one in five workers is worried about losing their job, employment site Glassdoor.com found earlier this year. The U.S. is also the sole industrialized country that doesn't guarantee paid days off.
"Americans are taking the value of their time for granted. By passing on vacation days and working instead, U.S. employees are serving as volunteers for their companies," Oxford Economics' Tourism Economics unit founder Adam Sacks said in a statement.