For an expert quote on the economic impact of the holiday, Jeff Humphreys, director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, has been studying the state’s economy for more than 20 years.
“Like any three-day weekend, Labor Day is very important to the hospitality and tourism industry, especially for ‘drive-to destinations,’” Humphreys said. “Although it’s consequential for promotions, Labor Day is not as important as it used to be because the school calendar has shifted ahead of the holiday. For many years, schools wouldn’t open until after the holiday, so there were lots of back-to-school sales and shopping incentives at that time. But those are now moved ahead of the school calendar and happen earlier.”
Humphreys also serves as a member of the Council of Economic Advisors for Gov. Nathan Deal, and previously for Gov. Sonny Perdue. He has published over 250 applied and academic studies regarding market research, economics, transportation and economic development. Humphreys is nationally renowned for his detailed estimates of the spending power of African-Americans, Latinos and Asian Americans. Within Georgia, he is recognized for his detailed economic forecasts and has written the monthly “State of the Economy” column for Georgia Trend magazine for more than 20 years.
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