How Many Business Days in a Year?
Sometimes, business days can be hard and confusing to determine because the meaning of ‘business days’ depends on the definition given by the certain company. The total number o f business days depend and vary for every business and company there is. In the US, the common number of business days is 260 or about 2080 work hours.
The number of business days can vary every year. On the average, there are 260 business days in every year. In a calendar year, there are always 52 weeks. Each week from the 52 weeks every year has 5 business days, less the number of holidays that may fall or may not fall during a weekday. On the average, if you multiplied 52 weeks by five days, you can get a 260 business days, not including the number of public holidays that occur every year.
Another way to compute the number of business day is by subtracting the number of weekend days in the whole year from the total number of days in a year. The formula would be 365 days minus the
104 weekend days, which will give us 261. The hundred and four days of weekend can vary as well. It can be 102 or 106, greatly depending on the day that the year you are computing for started. After this, we also have to consider the average number of legal bank holidays that is 10 days. You also should take note that others have at most 20 public holidays. Subtracting the ten days from the 261, it will give us 251 number of business days every year. In some situations and years, the number of business days can be as low as 239 days or can be as high as 260 days.
When you talk about the workdays, there can be, at round 245 workdays. A five-day works is employed in most of the countries. The International Labor Organization had a Holidays with Pay Convention and it gives workers 3 weeks of paid leave of absence. This means that instead of using the 52 weeks in every year, workers only work for 49 weeks. 49 weeks multiplied by the 5 week days will yield 245 work days for all the employees.
Category: Personal Finance