Labor Day Blues?

Another Labor Day is upon us. So is a rare Blue Moon. That occurs Friday, August 31, technically defined as a second full moon within the same month. Another definition is an extra full moon within one of the four seasons. Full moons regularly occur 12 times per calendar year. Blue moons can occur every two or three years.

Although many myths formed around the meaning of the ‘blue moon’, Labor Day is an American tradition formed to recognize the unique value of the working person. Made a federal holiday in 1894, the observance recognized labor stability addressed by labor unions. In later years the holiday values labor of all kinds in appreciation of the contributions each person makes to the common good of the nation through their employment, whether paid or volunteered.

The Work Ethic is another way of viewing it. Being of use in a family, community, neighborhood or industry carries a value for each of us. Making a living doing things is even better. It provides opportunity to others to do the same. Economic activity of larger scope projects deeper into the fabric of society.

From work also comes applied analysis and solutions. This leads to invention and innovation of product, service and process. From these efforts come many enhancements to quality of life. From simple tribal origins to modern day economies, work has a value far beyond the individual.

That is what we celebrate on Labor Day. Oh, and of course, we do that with cook outs, picnics, family gatherings and backbreaking work in the yard that we couldn’t get to because of our full time employment away from home!

Labor Day is the traditional time of the year we think of summer ending and fall beginning. Kids return to the classroom for the long months ahead. Business enterprises go into the final quarter of the year as they plan and intend to end the financial year with success and fat balance sheets.

Of course this time of year witnesses the official start to the countdown toward the “Holiday Season,” that period of our calendar in America that marks a beginning with Thanksgiving in late November, and ending with New Year’s Day on January 1^st.

But this year we have challenges to consider. Jobs support the expenses to house, feed, clothe and nurture our families. Work is important in defining who we are as individuals. Employment helps us see ourselves as individuals within a larger society. We learn to value our accomplishments; seek futures, too.

And yet opportunities to work are hindered by the current recession. The American people appear to be confused by the lack of opportunity they desire to make their own dreams come true: good jobs for strong wages and salaries; and benefits; let’s not forget the benefits.

Today’s economic landscape has redefined job opportunities as fewer, lower paid, and with fewer benefits. We are told to expect less. We are pressed to do more for our employers so they can remain in business.

Some of that is true; maybe even all of it to some extent. But it need not be this way. Not really. Why?

Because at any given time the environment exists for people to invent new ways of doing things, new products and new services. To do that takes risk. To make them happen takes more risk to find financing for support services, marketing, production of the ‘new thing’ and so on. Entrepreneurs help with that process. They risk dollars, their capital, to make the ‘new’ happen. If it works they reap many benefits. So does the person with the idea in the first place. Of course if this new enterprise doesn’t work, someone loses their capital or a part of it.

Along the way of our American History, society has become more risk averse. Fewer people seem to be willing to take risks in order to bring new products and services to market. On the other hand, industries and corporations appear much more avid risk takers if the federal or state governments are willing to partner for some of the risk.

Building of infrastructure so individuals and business firms don’t have to foot the bill in particular, is one example of what I refer to here. Another is regulatory activity. Such authority is used to safeguard players in specific industries, and their customers in case failure is encountered. Regulations help define the playing field so people don’t get hurt, or that opportunities are available to more people. There is always a trade off for such regulatory structures. A potential negative outcome is softened in its impact, the entrepreneurial reward is made a little less to help pay for it, and catastrophic failures that would harm the public at large is avoided or absorbed.

In modern day America we all have a stake in the economy and in the risk taking we make happen, or that others do to make the system function. This is a good thing. Gone are the days of the Wild West in which captains of industry were the masters of their own destiny, or barons with billions could grow up overnight. In some cases we have witnessed such barons being birthed: Steve Jobs, Bill Gates, and the founders of new technologies such as Google, Facebook, et. al. These folks were pioneers and reaped the financial benefits accordingly.

Those remarkable opportunities will always spring forth when fundamental changes occur within our society. They don’t last long, but for the early adopter, rewards accrue!

In 2012, however, Labor Day will be celebrated for the jobs we have, and the jobs we hope to get soon!  May the latter be early; and may it bring your dreams closer to reality. And may the Blue Moon not sour your outlook!!

August 30, 2012