A fun fact about this holiday⦠Published By Money & Markets, LLC. September 02, 2024 Published By Money & Markets, LLC. September 02, 2024 [Turn Your Images On] Happy Labor Day! According to legend, Labor Day's inception in the U.S. is all thanks to a street parade in Canada. In the late 19th century, Peter J. McGuire was in Toronto on business when he witnessed hundreds of workers parading in the streets as a demonstration of organized labor’s solidarity. He brought the idea back to the U.S. And as vice president of the American Federation of Labor, McGuire proposed a similar demonstration on the first Monday of September. The parade would be followed by a fundraiser picnic hosted by local labor unions. McGuire chose September because of the weather, and it's sandwiched between two other holidays: the Fourth of July and Thanksgiving. In 1887, Oregon became the first state to make Labor Day an official public holiday. Seven years later, Congress passed a bill making it official nationwide. Today, we celebrate Labor Day as not only the unofficial end of the summer but also as a testament to the strength of America's working class. So make sure to take a moment today to commemorate what this holiday is all about. Then, have some fun celebrating the fruits of that labor. Friendly reminder: Markets are closed today in observance of the holiday. We’re also taking a breather here with the Money & Markets Daily. Enjoy the rest of this long weekend. We’ll be back in full swing tomorrow. â Money & Markets Team --------------------------------------------------------------- [Turn Your Images On](
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