5 Top Stocks To Make The Most Of The Labor Day Weekend

This Labor Day weekend is expected to see busy roads and skies. After all, this will be the final summer holiday trip before parents start preparing for another busy school season.

People are willing to take long trips on increased financial confidence, backed by rising income levels and a healthy labor market. This calls for investing in the travel space.

Expect Busy Skies on Labor Day

This Labor Day weekend is likely to be very busy. The Airlines for America (A4A) has projected 16.5 million passengers on U.S. carriers, reflecting a 3.5% increase from last year.

This will result in around 2.36 million passengers traveling on U.S. airplanes each day, an increase of 79,000 from last year. Aug 31 is expected to be the busiest, with an estimated 2.76 million flyers.

In order to meet the spike in holiday travel, U.S. airlines have added nearly 92,000 more seats compared to the same period a year ago. A4A Vice President and Chief Economist John Heimlich said in a statement that “this Labor Day, U.S. airlines are enabling more passengers than ever before to take to the skies to see loved ones or visit exciting destinations because of improved accessibility for all.”

Airlines have already provided inflation-adjusted fares this year, making traveling more affordable. Their on-time arrivals, as well as departures, proper baggage handling and lesser number of complaints, are encouraging more passengers to fly compared to last year.

Roads Will be Packed as Well

Last time the American Automobile Association (AAA) measured the number of cars on the road during Labor Day weekend was in 2015 when a whopping 53 million people had traveled. This holiday period could witness even more traffic, as this year has already seen record travel via roads.

Both Memorial Day and Independence Day travel saw an uptick of 5% in traffic compared to last year. While 41.5 million Americans traveled around Memorial Day, 46.9 million took a trip during the Independence Day weekend.