Market Overview

This Day In Market History: Ford Brings 8-Hour Workday Into The Mainstream

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This Day In Market History: Ford Brings 8-Hour Workday Into The Mainstream

Each day, Benzinga takes a look back at a notable market-related moment that happened on this date.

What Happened

On this day in 1926, Ford Motor Company (NYSE: F) Founder Henry Ford announced the eight-hour, five-day workweek at his plant.

Where Was The Market

The Dow closed at roughly 157.20 and the S&P 500 traded at around 13.02.

What Else Was Going On In The World

Also on this day, the first issue of one of the first newspapers in the U.S. was published. Publick Occurrences: Both Foreign and Domestick was produced in Boston in 1690. British colonial authorities shut the paper down soon after.

The 9-to-5 Is Created

Following the Civil War, only a select few labor laws were created to enforce a limited work day. Despite advancements in certain classes and occupations in the late 1800s, 12-hour workdays were common.

Amid the labor movement and the formation of the The Federation of Organized Trades and Labor Unions in 1881, revised work days were demanded without avail. Subsequent rallies and violence made labor a top national issue.

In 1914, Ford attracted the working class by instituting eight-hour shifts, higher wages and five-day workweeks. The significance of this decision still remains, and it set a strong precedent for President Franklin D. Roosevelt’s signing of the Fair Labor Standards Act in 1938.

Related Links:

This Day In Market History: Ford Doubles Minimum Wage, Slashes Workday

The Era Of The 8-Hour Workday May Be Coming To An End

Posted-In: Dow Jones Industrial Average Fair Labor Standards Act Henry Ford labor laws President RooseveltEducation Media General Best of Benzinga

 

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