Labor Day – By the Numbers
What’s ranked as America’s 3rd favorite Holiday, has roots dating back nearly 140 yrs., and signals the end of summer more than anything else? We all know it’s the Labor Day Weekend and hopefully you are having (or had) a good one!
A number of years ago, we posted a blog on the history of Labor Day. If you missed this in your study of U.S. History and your curious about some of the ideals that evolved because of it, check it out. It’s a quick read with some timeless reminders that are still as applicable today as they were the day it was first established. “History of Labor Day – Dignity & Respect”
Labor Day Numbers…
WalletHub regularly puts out some cool by-the-numbers infographics. They’re always interesting, some of the facts are so obscure it’s like a sports statistic you hear from an announcer during a game, you’re surprised someone actually tracks it! This past week, WalletHub released an updated 2019 Labor Day by-the-numbers.
Here’s a few of the numbers to contemplate as you’re enjoying the Holiday.
If you sent a child back to school this past week you spent an average of $697. If you took a summer vacation before school started, it costs on average $2,373.
If you wanted to run in a Labor Day Race but didn’t, you were provided 84 opportunities across the country to do so. Apparently, a lot of people prefer to eat hot dogs over running, because 818 hot dogs are eaten every second from Memorial Day to Labor Day.
Though the economy appears to be showing some signs of slowing a little it is still pretty dang strong! The national unemployment rate remains at a historically low 3.7%. The low unemployment rate, has fueled the average hourly rate which is now up to $27.98/hr. And, despite all the talk about a need to raise the min. wage, the reality is there are very few jobs (including many entry level positions) that only pay the federal minimum of $7.25/hr.
You can pat yourself on the back, you’re still part of a pretty hard working group of people here in the US. 55% of Americans left vacation days unused last year, though 80% said they would take off more if their boss was supportive. This is a dilemma many “bosses”/business owners are challenged with when demand exceeds labor capacity and unemployment is a record lows. In a lot of cases it’s not that they don’t want their employees to take time off, it’s that they have no one to backfill the position if they aren’t there.
If you want to check out the entire WalletHub Labor Day By-The-Numbers infographic here’s the link. Labor Day 2019.
Finally, if you’re part of the 163.4 Million Americans (16 or older) in the US Workforce, thank you for your contributions to help strengthen our economy. We hope everyone enjoys (enjoyed) the Labor Day Weekend.
As always, we value your comments in the space below.
Chris Steinlage Kansas City Business Coach