As Labor Day approaches, it is a time to both celebrate American workers and take a critical look at how they have been impacted by the COVID-19 pandemic. Though the U.S. has largely reopened and a significant portion of the population is vaccinated, the national unemployment rate is still far higher than it was prior to the pandemic, at 5.4% as of July 2021.
In light of the financial struggles faced by workers across the U.S. and in recognition of Labor Day, WalletHub conducted a nationally representative survey, which found that nearly 1 in 3 Americans worry about job security. In addition to examining how the COVID-19 pandemic has impacted Americans’ finances, WalletHub’s survey also took stock of people’s plans for Labor Day.
Key Stats
- Labor Day travel is up. 48% more people will travel this Labor Day than last year.
- Consumers plan to shop more. 24% more people plan on going shopping this Labor Day than last year.
- Mixed feelings on unemployment benefits. 38% of people do not think that Congress should continue to give extra unemployment benefits.
- Americans fear new variants. 81% of Americans think that new COVID variants will have a negative impact on the economy.
- Many people support restrictions based on vaccination status. Half of Americans think it's good for the economy to restrict indoor venues to people who are vaccinated only.
Ask the Experts
For additional insight into the state of the workforce this Labor Day, WalletHub turned to a panel of experts. Click on the pictures of the experts below to see their bios and responses to the following key questions:
- WalletHub’s survey found that 48% more people will travel this Labor Day weekend than last year; what impact will that have on small businesses throughout the country?
- Why do you think 51% of the survey respondents feel they have worked harder since the coronavirus pandemic began?
- 81% of Americans think that new COVID variants will have a negative impact on the economy; do you agree?
- What advice do you have for the 1 in 3 Americans worried about their job security this Labor Day?
Ask the Experts
Associate Professor, Department of Economics – Cleveland State University
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Ph.D. – Dean, School of Business Administration – Widener University
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Ph.D. – Director of the Central European Institute, István Széchenyi Chair in International Economics, Honorary Hungarian Consul – Quinnipiac University
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Research Professor, Harris School of Public Policy – University of Chicago
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Visiting Professor of Law (Fall 2021) – Saint Louis University School of Law and Winston S. Howard Distinguished Professor of Law – University of Wyoming College of Law
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Professor of Economics, College of Literature, Science, and the Arts – University of Michigan
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Survey Methodology
This report reflects the results of a nationally representative online survey of over 750 respondents.
After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
Full Details Overall
| Will you travel for Labor Day this year? | |
|---|---|
| No | 69% |
| Yes | 31% |
| Are you planning to go shopping over Labor Day weekend this year? | |
| No | 56% |
| Yes | 44% |
| Do you think that new COVID variants will have a negative effect on the economy? | |
| Yes | 81% |
| No | 19% |
| Do workers in the U.S. get enough paid time off? | |
| No | 74% |
| Yes | 26% |
| Have you worked harder since the coronavirus pandemic began? | |
| Yes | 51% |
| No | 49% |
| How do you think labor has been treated by management during the coronavirus pandemic? | |
| Treated fairly | 48% |
| Taken advantage of | 41% |
| Treated generously | 11% |
| Should Congress continue to give extra unemployment benefits? | |
| Yes | 63% |
| No | 37% |
| Are you concerned about your job security this Labor Day? | |
| No | 73% |
| Yes | 27% |
| Is it good or bad for the economy to restrict indoor venues to people who are vaccinated only? | |
| Good for the economy | 50% |
| Bad for the economy | 50% |
| Did Covid limit your spending this summer? | |
| No | 51% |
| Yes | 49% |
Note: Percentages may not total 100% due to rounding.