Jun 18, 2021 - Economy

Companies hurry to give paid day off for Juneteenth holiday

Kierra Frazier

A "Yelp" sign outside its headquarters. — Yelp is one of the more than 800 companies to offer a paid holiday for Juneteenth. Photo: Smith Collection/Gado/Getty Images

More than 800 U.S. companies offered employees a paid day off Friday for the newly established Juneteenth federal holiday, Reuters reports.

Why it matters: President Biden signed legislation late Thursday making Juneteenth a federal holiday, leaving many U.S. companies rushing to create policies for workers to take the day off.

Juneteenth, celebrated on June 19, memorializes when the last enslaved people in Texas learned about their freedom under the Emancipation Proclamation.

The big picture: Companies such as JPMorgan Chase and Bank of America have allowed employees a floating day off. Nike will close all U.S. operations, and Yelp will offer a paid holiday, per Reuters.

Target will have an annual company holiday moving forward. Starbucks will remain open and hourly employees will be paid 1.5 times their regular rate and salaried staff will receive a holiday.

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Companies hurry to give paid day off for Juneteenth holiday

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