Happy Labor Day

Comments Off by in CMW News
August 30, 2019
Happy Labor Day

Image Copyright Ted Grussing Photography – Used with permission

This Labor Day of 2019 will be the 125th that our country has celebrated as a national holiday. Did you know the first Labor Day was celebrated on Tuesday, September 5, 1882, in New York City? It was first conceived as a celebration of the contributions American workers make to the prosperity of the country.

As word got around, observance of the holiday quickly spread to over 20 more states. However, it was not until June 28, 1894 when President Grover Cleveland signed it into law that Labor Day became an official national holiday.

Speaking of employment, here’s some numbers to further celebrate this great nation’s workforce over this Labor Day weekend:

  • The US economy produced the lowest unemployment rate since December 1969, according to the Bureau of Labor Statistics’ (BLS) household survey with the rate dropping to 3.6%.
  • July was the 17th consecutive month of the unemployment rate remaining at or below 4%.
  • Unemployment for adult women (20+) reached 3.1% in April, its lowest rate since 1953.
  • The rate of unemployment for Hispanics fell to 4.2%—the lowest rate since the series began in 1973.
  • The unemployment rate for individuals with only a high school degree fell to 3.5%—matching the lowest rate since 2000.
  • Additionally, the unemployment rate for veterans fell to 2.3%—the lowest rate since the series began in 2000.

  • The economy has added over 6 million jobs since the last general election in 2016.
  • The US continues to generate the longest streak of job and economic growth on record.
  • Wages are also rising. Average hourly earnings in April rose 3.2% in the past year.
  • With inflation running low, real wages rising means workers are able to purchase more goods and services with their larger paychecks.
  • The participation rate (number of people working/actively seeking work as a % of the working population (16-65) is finally percolating for the first time since the great recession.
  • Since last year, there have been more jobs available than applicants to fill them!

We would like to close with a quote from the U.S. Department of Labor:

“The vital force of labor added materially to the highest standard of living and the greatest production the world has ever known and has brought us closer to the realization of our traditional ideals of economic and political democracy. It is appropriate, therefore, that the nation pays tribute on Labor Day to the creator of so much of the nation’s strength, freedom, and leadership – the American worker.”

Our country would certainly not be what it is today without all the hard work put forth by the American work force. And how better to celebrate all your hard work than to take a day off from it?

We hope that you get to enjoy a long weekend with friends and family in this wonderful place we are blessed to live!

Source: https://www.dol.gov/general/laborday/history