While 1st May is celebrated as Labour Day in most of the countries but in USA/Canada, it is celebrated on 1st Monday of September.
Suppose the year is given in cell A1, you can use following formula to calculate the date for Labor Day
=CEILING(DATE(A1,9,1)-2,7)+2
Note – This utilizes the knowledge gained in Article 34 – Show Date for a Coming or Previous Day (Say Coming Monday, Previous Friday)