As Labor Day weekend is approaching WalletHub recently conducted their Labor Day Fun Facts report. The goal of this yearly report is to educate and entertain consumers with stats related to different aspects of the Labor Day Holiday. The stat I found the most interesting? 87% of people think they should get a raise to keep up with inflation. With inflation around 11% if you don’t get a raise then you’ve essentially gotten a pay cut. I am a firm believer in this and genuinely wonder who the 13% who did not agree are.

The statistics found below are all determined by the personal-finance website WalletHub. According to WalletHub this national survey “examines Americans’ Labor Day plans and how people have been impacted by the current economic environment.”  They involve travel, work habits, and how Americans plan to spend the holiday weekend. You’ll also learn a couple of fun facts about Labor Day and its history.

Labor Day Fun Facts and Survey Results

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• Gas Prices

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  44% of people are not planning to travel due to high gas prices. Cost is the largest concern regarding Labor Day travel followed by traffic and potential car accidents. Gas prices have increased 23% since this time in 2021.

• Inflation

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  87% of people believe they should get a raise to keep up with inflation
• Labor Day Travels

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  53% of American's will leave town to travel this Labor Day Weekend. 36% will travel by car while 14% plan to fly to their destination.

• Labor Day Means Back To School

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  Parents will spend an average of $864 on back to school for grade school aged children. Whereas college age students will spend an average of $1,199.

• Vacations!

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  75% of people had unused vacation days in 2021. The average American family spend $2,644 on vacation this summer. That's a 25% jump from 2021. 51% of Americans haven't taken a vacation in at least a year. After one year at a job most workers accumulate 11 vacation days. But the average vacation days most Americans employed full time get is 15.6. Americans didn't use 4.6 vacations days on average. (Not guilty of that one!)
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• Mental Health At Work

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  While mental health days are more common, 62% of workers are hesitant to request time off for mental health care due to potential judgement from their boss.

• Labor Day Food

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  61% of Americans report that they will cookout at some point this weekend.
• Labor Day Facts

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  1882 was the first Labor Day celebration with a parade in NYC. In 1894 Congress officially declared the first Monday in September a federal holiday. 68% of Americans report Labor Day as their favorite holiday.

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