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Recessions make car accidents decline

| Apr 8, 2020 | Car Accidents

Car accident rates stem from a lot of different factors. For instance, the invention of a new type of technology, such as the blind spot monitor, may lead to a decrease in overall accidents and an even greater decrease in that specific type of accident. On the other hand, a spike in the teenage population could lead to a spike in accidents since inexperienced drivers tend to cause the most crashes.

One thing that often flies under the radar is the impact of the economy. Researchers have found that car accident statistics almost always decline when there is an economic recession. Near the end of it, as the economy recovers, the amount of accidents starts to go back up again.

The reasons are simple. On one hand, a recession means higher unemployment rates, which means that fewer people have to drive to and from work. That daily commute increases the risks of a crash with higher traffic numbers, so taking thousands of cars out of the equation lowers the accident totals.

With unemployment and a drop in the economy comes a restriction on leisure travel, as well. People have less money to go around and pick cheaper entertainment options. For instance, they may not take a vacation that year, or they may choose to watch sporting events on TV instead of going to them in person. Just like losing a job, simply having less money takes people off of the road.

Naturally, though, even declining overall statistics do not mean you won’t get involved in an accident, and it’s important to know your legal rights if you suffer any injuries.

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