Unemployment Lines, 1930s

A severe decline in the business cycle, a depression, is characterized by reduced output and high unemployment. During the Great Depression of the 1930s, the worst economic downturn in modern history, millions lost their jobs, businesses failed, and financial institutions collapsed. This picture shows an unemployment line in New York. Of the 6,000 people hoping to get jobs on this day, 135 were hired.

UPI/THE BETTMANN ARCHIVE

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Keynesianism; Great Depression in the United States; Great Depression; Business Cycle; United States of America

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