What is the meaning of Labor Day? Why was there a US holiday?

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the prosperity and well-being of our country.
It was hard times in the days of depression that hit the country in the 1880s. It led to widespread wage cuts and unemployment in the traditional pattern of the economic cycle. This was when the Knights of Labor came into being. It was their initiative that Labor Day turned out to be a civic event with parades and meetings.
It is a day intended to be set be aside to for all laborers (workers) to be able to stay away from the work place without fear of losing their jobs. Most employers pay their employees at their regular rate of pay as well. This is not happening as it should. Retailers, manufacturing plants, fast food chains, etc continue to ignore the importance of this one day a year of rest. On the flip side, hospitals, doctors, ministers, funeral directors, firemen and police officers and others who serve the public needs choose to take their turn no matter what day of the week or year it is. It is a matter of personal choice.