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Marketplace All-in-One

Once again, Labor Day travel is expected to break records

Marketplace All-in-One

Marketplace

Business, News

4.51.4K Ratings

🗓️ 2 September 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

Labor Day weekend is usually a hectic travel weekend, but this year is set to break records as people travel across the country to celebrate the holiday. We look at the economic drivers of what’s projected to be a very busy few days at airports, highways, and train stations nationwide. Plus, a look at a new chocolate production technique promising to boost the fortunes of producers and consumers of the much-loved treat.

Transcript

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0:00.0

Parts of the cocoa plant they had been casting off might actually improve chocolate.

0:07.0

I'm David Brancaccio on this Labor Day. First, Labor Day beyond its connection to the Union and Workers Movements in America is also

0:14.9

the end of summer holiday weekend.

0:18.0

By this Wednesday, the Transportation Security Administration expects to screen more than 17 million people at airports that is a record for this holiday

0:28.1

Prices are down for travel marketplaces. Nova saffo has that

0:32.1

Airfares are about 3% lower than last year according to

0:36.0

government figures and AAA says average gas prices are nearly 50 cents

0:41.0

cheaper than this time last year. It says that's helping fuel a

0:44.8

nine percent increase in domestic travel right now. Also helping a relatively

0:50.1

strong consumer. Consumer confidence in August hit a six-month high and

0:55.2

Americans became less worried about inflation and the likelihood over recession.

1:00.5

Airlines are optimistic too as they continue to see strong demand.

1:05.0

For the Labor Day holiday period, they've increased seat capacity by more than 3%

1:10.6

according to the Industry group Airlines for America.

1:14.6

The holiday brings an end to a summer that also got off to a strong start.

1:18.8

Delta, Southwest, and American all reported record sales during the quarter ending in June.

1:25.1

That may not necessarily translate to improved profits though, as our lines said, they're

1:29.6

also contending with higher costs. I'm Novasafo for Marketplace. Labor Day here may not be a

1:36.8

holiday known for its music but there is an argument for that. There's a rich

1:41.9

history of workers using songs to

1:43.6

advocate for better working conditions and build unions. My marketplace

1:47.7

colleague Ellen Rolfus wrote about this for our series Econ

...

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