GNO, Inc. Sunday Night Highlight – In Honor of the Great American Worker💪
It’s interesting that most of us celebrate “Labor Day” by enjoying a BBQ and a mini-vacation. Or, perhaps it’s apt – everyone deserves some R&R!
This Sunday Night Highlight is dedicated to Labor Day and the great American worker.
First, a brief history of Labor Day, the holiday honoring workers and recognizing their contributions to society: The first Labor Day parade was held in 1882 in New York City. Two years later, the Knights of Labor adopted a resolution that the first Monday in September be considered Labor Day. The idea quickly spread across the country, and Labor Day became a federal holiday in 1894. It continues to be celebrated with parades to this day, and is traditionally considered the end of summer in the United States (but not really in New Orleans 😅) .
Now, some interesting stats about American workers:
- 169 million+ Americans make up the civilian labor force today – roughly half the entire population
- Women have gone from a small minority to nearly 47% of the labor force, a massive structural shift from just a few generations ago
- The average American worker today is older than ever: labor force participation among people 65 and up has roughly doubled since the 1990s
- U.S. business-sector output has increased more than nine-fold since 1947, while the hours worked to produce it haven’t even doubled
- The U.S. Patent and Trademark Office issues over 300,000 utility patents a year
- Roughly 5.5 million new business applications are filed with the U.S. government annually – the most on Earth
- Nearly half of Fortune 500 companies were founded by immigrants or their children
- U.S. worker productivity has climbed roughly 400% since 1950 – today’s workforce produces in a single hour what once took most of a day
- Small businesses (fewer than 500 employees) generate about 44% of U.S. GDP and create roughly two out of every three new jobs
- Real median household income has more than doubled since the 1950s, rising from roughly $31,800 to over $83,000 today
It’s an impressive story of dedication and ingenuity.
President Grover Cleveland signed Labor Day into law, and so he gets the final word:
“Honor lies in honest toil!”