Labor Day is Over... Until Further Notice

Although first observed by a New York City union in 1882, Labor Day didn’t become an actual federal holiday until 1894. That’s when President Grover Cleveland sought to make good with the average working stiff just six days after the tragically violent Pullman Strike.

Even counting from its later official inception, Labor Day remains a potent 116-year tradition that honors the importance of American workers in providing the backbone of the nation’s economy. Today, though — with so many goods purchased in America produced abroad — perhaps it would make more sense to celebrate elsewhere.

The Daily Reckoning