Private employers are not required to observe these holidays, although many businesses will close at least for New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.
Some people have objected to honoring Martin Luther King, Jr and Christopher Columbus with holidays. As a result, Martin Luther King Day took several years to gain national acceptance and was renamed Human Rights Day in some locations, and Columbus Day is not celebrated in all states, although it remains a holiday for federal workers in those states.
The UK equivalent is a Bank Holiday. The Canadian equivalent is a Statutory Holiday.