In a nationwide first, schools across New York are closed on Wednesday in observance of the Lunar New Year. Why it matters: More local and state jurisdictions in recent years have officially recognized the holiday celebrated by many Asian cultures.

As CBS News New York's Dave Carlin reports, a traditional firecracker ceremony was held Wednesday in Lower Manhattan.

Students in New York City and the rest of the state will welcome the year of the snake for the first time outside the classroom. Public schools will close on Wednesday in observance of the Lunar New Year.