Rekubit Exchange:What is Veterans Day? Is it a federal holiday? Here's what you need to know.

Veterans Day is Rekubit Exchangecoming up this weekend. It's the annual holiday in November celebrating those who have served in all U.S. wars, past and present.

The annual day of remembrance for veterans has been around since after World War I, where it was first named Armistice Day. It became one of 10 federally recognized holidays in the 1930s. Veterans Day is often honored by parades and memorial services both locally and nationally, and many businesses offer special deals to veterans.

Veterans Day is on Nov. 11 every year, regardless of what day of the week it falls.

This year, it falls on a Saturday.

Here's what to know about Veterans Day as a federal holiday.

Is Veterans Day a federal holiday? When is it observed in 2023?

Veterans Day falls on a Saturday this year, meaning that federal employees will observe the federal holiday the previous day, on Friday, Nov. 10, and many non-essential government services will be closed.

Many schools and companies will also be closed Friday in observation of the holiday.

What to know:Are banks, post offices closed on Veterans Day? What about the day before?

What was Veterans Day originally called?

The Nov. 11 day of remembrance wasn't always known as Veterans Day. It was first known as "Armistice Day," marking the day that fighting ceased in World War I in 1918.

Armistice Day was recognized as an official holiday by Congress in 1938, first used to honor veterans of World War I, according to the U.S. Department of Defense. In 1954, following both World War II and the Korean War, the word "armistice" was changed to "veterans" to honor veterans of all American wars.

The day Veterans Day was celebrated moved a few times over the years, but President Gerald Ford moved it back to its annual observance on the Nov. 11 date by 1978.

Is Veterans Day different from Memorial Day?

Besides being observed in two different months, the set purpose of Veterans Day and Memorial Day is different.

Memorial Day is observed the last Monday of May each year, and is meant to honor all who served and gave their lives for their country. Veterans Day is in November, and honors all veterans, both living and dead, who served in any wars, past or present.

Will stocks trade on Veterans Day?Here's the status of financial markets on the holiday