AAA Travel projects 35.5 million Americans will journey 50 miles or more from home during the Labor Day holiday weekend, a one percent increase from 2014. New Jersey will see a slightly smaller total increase (0.2 percent), with a little over one million travelers planning to take advantage of the last summer holiday.
“A combination of low gas prices, greater disposable income and one last long weekend will help to encourage more people to travel,” said Cathleen Lewis, director of public affairs and government relations for AAA Northeast in New Jersey.
Economic Improvement Spurs Travel Growth
A strong labor market has helped increase personal income, which, combined with flat prices, has resulted in a boost to disposable income, which is expected to increase 3.5 percent compared to last year. However, a cautious consumer is using some of that money to save and pay debt. As a result, the increase in travel volume is forecast to be moderate this Labor Day.
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Labor Day Gas Prices Could be Lowest in a Decade
Motorists could find the lowest Labor Day gas prices in a decade. Today’s national average price for a gallon of regular unleaded is $2.47 – 96 cents cheaper than Labor Day weekend 2014, and lower than all Labor Day national average prices dating back to 2004. In New Jersey, today’s average price is $2.18 – $1.07 lower than last year’s holiday. The price of oil continues to sink, putting downward pressure on gas prices.
AAA Northeast in New Jersey provides automotive, travel, insurance, financial and educational services to its nearly 400,000 members in Essex, Morris and Union Counties.Related Articles: