President Joe Biden laid a wreath at Arlington National Cemetery on Monday for Veterans Day as thousands marched through the streets of New York. Smaller parades were held across the country to honor Americans who served in the U.S. military.

Veterans Day began more than a century ago, albeit under a different name, as a celebration of the end of the First World War. Over time, its name and purpose evolved into a day of recognition for American veterans by all wars as well as those currently serving in uniform.

It is also a day off for U.S. postal workers and other federal government employees, as well as for many schoolchildren. Numerous stores and companies offer giveaways and discounts.

Here’s a look at how the United States celebrates Veterans Day and how it started:

What is the history behind Veterans Day?

It started as Armistice to celebrate the agreement between the Allied nations and Germany to cease all fighting during World War I, which came into effect at 11 a.m. on November 11, 1918.

The US celebrated the first armistice in 1919 under President Woodrow Wilson. Congress made November 11 an official federal holiday in 1938.

A holiday dedicated to those who fought in what was known as ‘the war to end all wars’ was revalued after World War II. In 1954, Congress changed the name to Veterans Day, reflecting a broader goal of honoring veterans of all wars.

Other changes, he said, were not as well received the U.S. Department of Veterans Affairs website. Federal Veterans Day celebrations were moved to Mondays in the early 1970s, causing confusion as some states stuck with the November 11 date.

In 1975, President Gerald Ford signed a law that moved federal observances to November 11. Since then, the US has celebrated Veterans Day on that date.

How is Veterans Day commemorated?

Communities across the US have held parades on November 11 to honor war veterans, dating back to the first armistice in 1919.

The nation’s largest Veterans Day parade is held in New York with a procession along Fifth Avenue in Manhattan. An estimated 20,000 demonstrators participated in 2024, according to the United War Veterans Council, which organizes the parade.

US presidents lay a wreath during a ceremony at the Tomb of the Unknown Soldier at Arlington National Cemetery, just outside Washington. In remarks Monday at the cemetery’s memorial amphitheater, Biden said it had been his lifelong honor to serve as commander-in-chief of “the greatest fighting force in the history of the world.”

Other countries, including the United Kingdom, Canada and Australia, also honor veterans on or around November 11. They call their day of remembrance Remembrance Day.

How is Veterans Day different from Memorial Day?

While Veterans Day events tend to focus on thanking all U.S. military veterans, both living and dead, Memorial Day celebrations Traditionally it was about remembering those who died during wars.

Memorial Day began after the Civil War, with the first national celebration of what was then called Decoration Day on May 30, 1868. An organization of Union Army veterans called for decorating war graves with flowers.

Since 1971, the US has celebrated Memorial Day on the last Monday in May instead of May 30. The resulting three-day weekend has led to some complaints that the day’s true purpose of somber commemoration has been undermined by its more relaxed recognition as the unofficial start of summer.

What is open and what is closed on Veterans Day?

Because it is a federal holiday, the US Postal Service does not deliver mail on Veterans Day. Federal courts and other government offices are also closed.

Most banks in the US are taking the day off, as are many public schools.

The New York Stock Exchange and the Nasdaq stay openeven though the bond markets are closed.

Although some private businesses observe Veterans Day, most retailers remain open and many are offering special deals. Many restaurants offer free meals to veterans and current military personnel, who also take advantage of Veterans Day discounts from retailers. Some zoos and museums are waiving admission, while certain stores are giving away haircuts and car oil changes, according to a list compiled by the Department of Veterans Affairs.