US Labor Day
31 Aug 2008
Today US markets is closed (and so is the Canadian, especially those in Alberta) in observance of Labor Day (or “Labour Day” in Canada). Labor Day is celebrated annually on first Monday in September. This is a federal state holiday in US and all the 50 state have made Labor Day a State Holiday.
According to the US Government documentation, the first Labor Day was celebrated on Tuesday, September 5th, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5th, 1883.
In 1884 the first Monday in September was selected as the holiday, as originally proposed, and the Central Labor Union urged similar organizations in other cities to follow the example of New York and celebrate a “workingmen’s holiday” on that date. The idea spread with the growth of labor organizations, and in 1885 Labor Day was celebrated in many industrial centers of the country.
We can compare this to internationally-observed Labour Day on May 1st. A day off for any workers, a tribute to their contribution for the economic’s machine.
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