Labor Day serves as both a celebration of American workers and an opportunity to reflect on the economic challenges they face, including the effects of inflation. In fact, 55% of people think inflation and tariffs are erasing their hard work, according to a nationally representative WalletHub survey.
The survey explored Americans’ Labor Day plans and assessed how today’s economic climate is influencing their financial well-being. Key statistics are highlighted below, followed by the full survey results.
Key Stats
- Economic Pressures Mount: 55% of people think tariffs and inflation are erasing their hard work.
- Working harder for the money: 7 in 10 people say they’re working harder this year than last year.
- AI Anxiety: 2 in 5 Americans are concerned that artificial intelligence will take their job.
- The Struggle is real: Nearly 3 in 5 Americans say it’s not easy to get a job right now.
- Call for Support: 93% of people think companies should offer financial wellness tools to employees.
- Labor Day Budget: Nearly 3 in 5 Americans say they don’t have a budget for Labor Day spending.
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 55% of people think tariffs and inflation are erasing their hard work. What can workers and employers do to reverse this trend?
- Nearly 37% of Americans say Labor Day expenses lead them to overspend. What are the best ways to celebrate the holiday on a budget?
- Around 94% of people want a raise to keep up with inflation. How has inflation affected the compensation that employers provide to their workers?
- Do you agree with the 59% of Americans who think Labor Day sales offer good deals? What types of items tend to have the best deals?
Ask the Experts
Regents Professor of Economics – Texas A&M University – Corpus Christi
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Margaret Gage Bush Distinguished Professor of Economics and Medical Properties Trust Fellow – Samford University in Birmingham, Alabama
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Ph.D. – Professor of Economics, College of Liberal Arts – Temple University
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Ph.D. – Professor of Economics, Romain College of Business – University of Southern Indiana
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Professor of Clinical Finance and Business Economics, Marshall School of Business – University of Southern California
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Survey Methodology
This report reflects the results of a nationally representative online survey of 200 respondents.
After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
Full Survey & Responses
| Are you planning to spend more or less this Labor Day weekend compared to last year? | |
|---|---|
| Less | 52% |
| More | 48% |
| Are you concerned that artificial intelligence will take your job? | |
| No | 60% |
| Yes | 40% |
| Do you think you should get a raise to keep up with inflation? | |
| Yes | 94% |
| No | 6% |
| Are tariffs and inflation erasing your hard work? | |
| Yes | 55% |
| No | 45% |
| Are you working harder this year than last year? | |
| Yes | 70% |
| No | 30% |
| Do you think Labor Day sales offer good deals? | |
| Yes | 59% |
| No | 41% |
| Is it easy to get a job right now? | |
| No | 59% |
| Yes | 41% |
| Should companies offer financial wellness tools to employees? | |
| Yes | 93% |
| No | 7% |
| Do you have a budget for Labor Day spending? | |
| No | 57% |
| Yes | 43% |
| Do Labor Day expenses make you overspend? | |
| No | 63% |
| Yes | 37% |
Note: Percentages may not total 100% due to rounding.
WalletHub experts are widely quoted. Contact our media team to schedule an interview.