The stock market has had a strong 2023 so far, but that doesn’t mean investors won’t enjoy the long weekend.
Economic data has also given market participants reason for optimism. On Friday, the Labor Department reported the U.S. unemployment rate in August rose from July as wages rose less than expected. The data marked a positive sign for the Federal Reserve, which is working to fight historically high inflation. The central bank partially attributes rising prices to a tight labor market.
What Is Labor Day? Labor Day, which became a federal holiday in 1894, is celebrated on the first Monday of September each year. It is meant to pay tribute to and celebrate the contributions of American workers across the county. How Do Stocks Perform After Labor Day? September is typically a tough month for the market. Since the S&P 500’s inception in 1928, the index has slipped an average of 1.1% in September, according to Dow Jones Market Data.