Economic Indicator: AAA Predicts 10% Jump In Labor Day Holiday Travel
If you're heading out on the roads this holiday weekend, expect lots of company.
The automobile club AAA is forecasting a 10 percent increase in trips by car this Labor Day weekend compared to a year ago.
AAA spokesman Dave Overstreet attributes the travel rebound to overall economic improvement since last year.
Dave Overstreet: "Job growth of course has been disappointing during that time, but the gross domestic product, household net worth of individuals, and consumer confidence have all increased. At the same time, consumer debt has gone down. So the U.S. travel industry actually began to gain some traction in the fourth quarter of last year. That gradual momentum has carried on into this year."
Overstreet says Northwest travelers are not deterred by higher gas prices, airfares, car rentals and hotel rates. Average prices in all those categories have risen since Labor Day in 2009.
© 2010 Northwest News Network
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