Thanksgiving first travel increase in 2011

Americans will increase Thanksgiving travel by 4 percent compared to last year, the first significant increase in any holiday travel for 2011, AAA said. "Driving AAA's projected increase in the number of Thanksgiving travelers is pent-up demand from Americans who may have foregone holiday travel the last three years," said Bill Sutherland, vice president of AAA Travel Services. "As consumers weigh the fear of economic uncertainty and the desire to create lasting family memories this holiday, more Americans are expected to choose family and friends over frugality. "This is the first significant increase in any holiday travel this year," said Sutherland. "Memorial Day travel was statistically flat while Independence Day and Labor Day travel experienced decreases of 2.5 percent and 2.4 percent, respectively." An estimated 42.5 million Americans will travel 50 miles or more from home Wednesday through Sunday, up from 40.9 million people in 2010. More Americans will take to the skies this year as well -- 1.8 percent more than last year, even though Thanksgiving airfares are an average 20 percent higher than last year. U.S. unemployment is expected to be 0.4 percentage point lower than last year but household net worth is expected to be 5.6 percent lower in the fourth quarter of 2011 compared to last year, AAA noted.