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The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933.
By 1939, the effects of the 1937 recession had disappeared. Employment in the private sector recovered to the level of the 1936 and continued to increase until the war came and manufacturing employment leaped from 11 million in 1940 to 18 million in 1943. [73] Another response to the 1937 deepening of the Great Depression had more tangible results.
The recession of 1937–1938, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 were first steps to a restoration of the pre-1933 policy regime.
When Queen Elizabeth II of England asks a question, she gets answers.During a visit to the London School of Economics in November, the queen asked "How come nobody could forsee it? -- meaning ...
This page was last edited on 7 June 2020, at 15:16 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply ...
The bad fortunes of the car industry caused the third-largest U.S. carmaker to lay off 12,000 people in late 2007. Later, the company fired another 5,000 employees -- or about 25% of its salaried ...
For example, the NBER didn't declare the recent pandemic-related recession in March 2020 an official recession until July 2021. The contrarian: Michael Burry of "The Big Short" fame in 2015.
Sen. Carter Glass (D–Va.) and Rep. Henry B. Steagall (D–Ala.-3), the co-sponsors of the Glass–Steagall Act. The sponsors of both the Banking Act of 1933 and the Glass–Steagall Act of 1932 were southern Democrats: Senator Carter Glass of Virginia (who by 1932 had served in the House and the Senate, and as the Secretary of the Treasury); and Representative Henry B. Steagall of Alabama ...