It turns out I goofed, because as Esquire reports,
this is not a new, Trump-era holiday. Loyalty Day was first observed in 1921 in response to the First Red Scare. It became a legally designated holiday in 1958, thanks to an act of Congress, and it has been observed annually by every president since. Loyalty Day is defined as “the reaffirmation of loyalty to the United States and for the recognition of the heritage of American freedom,” according to the U.S. Code.
So, yes, it is strange that we celebrate patriotism on May 1 while the rest of the world honors its workers, but it is not another sign of the coming apocalypse.
Esquire did add one important difference between the Loyalty Day proclamations of Trump’s predecessor and him.