Ahead of the upcoming Labor Day weekend, WalletHub’s recent survey offers insights into American plans, finances, and worries. The Labor Day Survey reveals how the economy shapes holiday celebrations and personal financial choices.
55% of Americans plan to spend less this Labor Day compared to last year. Inflation prompts 63% to work harder, affecting travel plans for 61%. Concerns about job security rose by 23%, while 87% seek raises to combat inflation’s impact. Additionally, 37% worry that AI might take their jobs. 41% have stated they are worse off this year, however, 51% still claim they will go shopping over the long holiday weekend.
The Labor Day Fun Facts report adds trivia to the mix. Notably, 55% didn’t use their vacation days in the past year. Also, a mind-boggling 818 hot dogs are devoured every second between Memorial Day and Labor Day. Yet, it’s not all fun: 668,000 lives have been saved since the 1970 Occupational Safety and Health Act, though the cost of worker injury and illness is a hefty $174+ billion yearly.
Labor Day Survey:
- Many people have started working harder. 63% of people say they are working harder due to inflation.
- Inflation is impacting holiday travel. 61% of people are less likely to travel this Labor Day weekend due to inflation, compared to last year.
- Job security is a rising concern. 23% more people say they are concerned about their job security this Labor Day compared to last year.
- There is high demand for raises. 87% of people want a raise to keep up with inflation.
- Some people are worried about AI. 37% of people are concerned that artificial intelligence will take their jobs.
- 55% of Americans left vacation days unused in 2022.
- 818 hot dogs are eaten every second from Memorial Day to Labor Day.
- More than 668,000 workers’ lives have been saved since the Occupational Safety and Health Act was enacted in 1970.
- $174+ Billion is the annual cost of worker injury and illness in the U.S.
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