You’re not going to be able enjoy your Labor Day holiday anyway, with prices 23% higher than last year. A new report has revealed that American travelers will have a rough time this September due in large part to increased costs for flight and hotel bookings during Labor Day weekend. This one is rough
Bidenflation strikes again and this one hurts!
The Daily Wire Reports. Travelers for Labor Day will encounter 23% higher prices than last year, according to a Hopper report released on Tuesday.
According to the travel booking company, domestic airfares over the holiday weekend will average $278 per round trip, a 20% increase over 2019 and a 23% increase over 2021. Approximately 12.6 million passengers are expected to fly, with the most expensive tickets being sold on Thursday, September 1, and Friday, September 2.
Hotel rates have increased 6% since last Labor Day weekend, with New York City, Las Vegas, and Orlando experiencing the highest search volumes.
Approximately 39% of passengers will travel internationally, with international round-trip airfare averaging $850, a 34% increase since last year and a 30% increase since 2019. Mexico City, Mexico; Cancun, Mexico; and San Juan, Puerto Rico, are among the most popular destinations.
In the past year, airline fares have risen 27.7%, according to the Bureau of Labor Statistics. A 32.9% increase in energy prices, including a 44% rise in gasoline costs, has accompanied the increase. Despite being “historically high,” jet fuel prices have declined to $2.94 per gallon in recent weeks, according to Hopper.
Airline pilot shortages have led to persistent flight cancellations in the air travel industry. A bout of extreme weather hit the eastern United States in May, resulting in more than 3,000 cancellations, while over 1,800 cancellations occurred during the Fourth of July holiday. In the wake of months of increase in flight cancellations and delays, Transportation Secretary Pete Buttigieg recently discussed the return to normal airline travel.
Despite a federal law requiring airline pilots to retire at 65, according to a report by Oliver Wyman, there will be 12,000 pilot shortages by 2023 in the United States.
This report comes as Biden signs the Inflation Reduction Act into law. While the Democrats tout this act as a way to tackle inflation, many people are rightly doubting that claim.
Fox News reports, the Inflation Reduction Act likely won’t reduce near-term inflation, according to a new MoneyWatch report from CBS News.
Citing the opinion of University of Pennsylvania economists and data scientists behind the Penn Wharton Budget Model, the legislation’s likely impact on inflation is “statistically indistinguishable from zero.”
The Biden economy strikes again and it looks like it may cost you your vacation this time. Inflation under Biden is at record highs and even their efforts to combat it are not looking promising. 2024 cannot come soon enough!