Christmas Eve is a federal holiday in the United States, meaning it is a day off for federal employees and is not counted as a business day. Many businesses also give their employees the day off to celebrate the holiday. Additionally, many schools and universities close for the day, allowing students and teachers to enjoy the holiday as well. As a result, Christmas Eve has become an important holiday in American culture, providing an opportunity to spend time with family and friends, exchange gifts, and celebrate the birth of Jesus Christ.