What is Labor Day? A Day to Celebrate Labor, of Course
Closing the summer by honoring workers
What is Labor Day? Why do we celebrate Labor Day? According to Wikipedia, this holiday originated in Canada and was intended to remind people of various labor disputes between workers and business owners in the late 19th century. It migrated to the United States after American labor leader Peter McGuire attended a Canadian labor festival and decided to bring this tradition south of the border. Considering the deadly labor disputes that were occurring in America at that time (such as the 1894 Pullman Strike), President Grover Cleveland made organized labor reconciliation a priority. Just six days after the Pullman Strike concluded, Labor Day was signed into law and it became a national holiday in America.
Organized labor, united in… travel?
This is traditionally what Labor Day has become for most families – a time to travel. However, in this difficult economy, people are less willing to spend big money on vacation travel. There are loan lenders that can help, but the economic reality is daunting. Thus, as Bloomberg reports, people are staying home (“stay-cations”) or staying local. The American Automobile Association (AAA) is predicting a 13-percent drop in highway travel from last year. Considering that kids are already back in school, the tourism industry won’t be cashing in this Labor Day weekend. AAA also foresees an overall decline in road and air travel across America of around 6 million people. That’s a staggering figure.
Hotel and Real Estate analyst William Marks tells Bloomberg that “There will be some good deals out there that may cushion occupancy, but it will be a tough weekend in comparison to other years.”
Unemployment is ugly, not a happy Labor Day tale
The latest estimates put the United State’s number of jobless at 6.7 million since the current recession began in December of 2007. Unemployment currently sits at 9.5 percent, which reflects an increase from July to August. Unless that trend stops, travel will continue to fall by the wayside for many American families. Their use of loan lenders likely will focus more on essential everyday expenses and less upon things like travel.
Lowering prices to make people bite
Considering the increasing lack of demand, prices for flights and hotel rooms are down on average. Travelocity reports that the average Labor Day airfare in the U.S. is now $286, which is 16 percent lower than in 2008. Expedia is one of several online air fare and lodging portals that have seen an increase in their stock price thanks to the number of American who have been able to take advantage of the value prices. However, a strong economy would feature more travel overall. Travel companies are seeing increases relative to where they were at during the nadir of this recession.
How will you celebrate Labor Day?[get started_button float=”right”]
Is there travel on your agenda, or will you stay at home like many others? If you find that all you’ll need is quick cash from a loan lender to make this weekend fantastic, we welcome you to click the button and get started. It’s quite easy. Just make sure that the amount you’re borrowing is something you can comfortably repay.