-
The Panic of 1893
The United States experiences its worst economic depression
to date with the Panic of 1893. Banks begin calling in loans and hundreds of businesses, including banks, railroads and steel mills go into bankruptcy. Over 15 thousand businesses close and unemployment soars to as high as 25% of the workforce. The unemployment rate exceeds 10% for five or six consecutive years. -
Coxey's Army
Jacob S. Coxey, owner of a sand quarry in Massillon, Ohio, organizes a march that becomes known as Coxey's Army to protest the federal government's failure to help unemployed Americans during the Panic of 1893. The group leaves Massillon and marches to Washington, D.C., with more workers joining along the route. Coxey and his supporters demand that the government hire them to work on public projects; the Congress and president Grover Cleveland refuse to act and Coxey is arrested for trespassing. -
Department of Labor created
March 4: President William Howard Taft signs the bill that establishes the Department of Labor as a Cabinet office. -
Black Tuesday
The stock market crash on what becomes known as Black Tuesday marks the beginning of the Great Depression in the United States. During the Great Depression, which lasts until 1939, unemployment rises to approximately 25% of the workforce. -
The Bonus March
A small group of poor, unemployed World War I veterans marches to Washington, D.C., to demand immediate payment of their bonuses for fighting in the Great War. Although the bonuses were issued as certificates of service that would mature in 20 years (1945), the veterans demand immediate full payment. The "Bonus March" does not produce immediate results; the veterans do not receive their payments until 1936. -
The Wagner-Peyser Act
Congress passes the Wagner-Peyser Act which establishes a nationwide system of public employment offices known as the
Employment Service. The Civilian Conservation Corps (CCC) is established by President Franklin D. Roosevelt as part of his New Deal legislation introduced to relieve unemployment. The CCC employs thousands of young men who are housed at camps across the United States. -
The Works Progress Administration founded
The Works Progress Administration (WPA) the largest of President Roosevelt's New Deal agencies, employs 8.5 million people who build bridges, roads, public parks, public buildings and airports. The WPA includes the Federal One program that also provides employment for artists (Federal Art Project), musicians (Federal Music Project), theater workers (Federal Theater Project), writers (Federal Writers Project) and archivists (Historical Records Survey). -
FDR signs the Social Security Act
President Roosevelt signs the Social Security Act which has a provision for unemployment insurance programs. -
British economist John Maynard Keynes publishes The General Theory of Employment, Interest and Money
The General Theory of Employment, Interest and Money was published by English economist John Maynard Keynes.
The book, generally considered to be his magnum opus, is largely credited with creating the terminology and shape of modern macroeconomics.
Published in February 1936 it sought to bring about a revolution, commonly referred to as the "Keynesian Revolution", in the way economists thought - especially in relation to the proposition that a market economy tends naturally to restore itself. -
The National Apprenticeship Act
In 1937, Congress passed the National Apprenticeship Act (29 U.S.C. 50), also known as "the Fitzgerald Act." The Act established a national advisory committee whose task was to research and draft regulations to establish minimum standards for apprenticeship programs. The Act was later amended to permit the United States Department of Labor to issue regulations protecting the health, safety and general welfare of apprentices, and to encourage the use of contracts in hiring and employment. -
FDR: The first comprehensive national survey on unemployment
President Roosevelt announces the first comprehensive national survey on unemployment in his fireside chat, and
urges Americans to cooperate. -
The Employment Act
The Employment Act, which provides the mandate for the federal government to achieve full employment and stabilize
the economy, is signed into law. -
Bureau of Labor Statistics publishes unemployment statistics
The Bureau of Labor Statistics begins publishing a series of unemployment statistics. -
The annual average unemployment rate is 5.3%.
The annual average unemployment rate is 5.3%. -
The annual average unemployment rate is 4.4%.
The annual average unemployment rate is 4.4%. -
The annual average unemployment rate is 5.5%.
The annual average unemployment rate is 5.5%. -
JFK: The Area Redevelopment Act
President John F. Kennedy signs the Area Redevelopment Act which provides federal grants and loans to areas of the country with chronic high unemployment. -
The Manpower Development and Training Act
The Manpower Development and Training Act of 1962 authorized a three-year program aimed at retraining workers displaced by new technology. The bill did not exclude employed workers from benefiting and it authorized a training allowance for unemployed participants. Even though 200,000 people were recruited, there was minimal impact, comparatively. -
LBJ declares a War on Poverty
President Lyndon B. Johnson declares a War on Poverty which is part of his plan to implement a "Great Society" in the United States. The centerpiece of his plan is the Economic Opportunity Act (EOA) which provides job training, adult education and small business loans to confront poverty and unemployment. The Job Corps program, established as part of the EOA, provides young people with the educational, vocational and social skills they need to obtain long-term jobs. -
The annual average unemployment rate is 4.5%.
The annual average unemployment rate is 4.5%. -
The annual average unemployment rate is 4.9%.
The annual average unemployment rate is 4.9%. -
Nixon signs the Emergency Employment Act
President Richard M. Nixon signs the Emergency Employment Act to create more than 150,000 temporary public service jobs. -
Congress passes the Comprehensive Employment and Training Act
The program offered work to those with low incomes and the long term unemployed as well as summer jobs to low income high school students. Full time jobs were provided for a period of 12 to 24 months in public agencies or private not for profit organizations. The intent was to impart a marketable skill that would allow participants to move to an unsubsidized job. It was an extension of the Works Progress Administration program from the 1930s. -
The annual average unemployment rate is 8.5%.
The annual average unemployment rate is 8.5%. -
President Jimmy Carter signs the Full Employment and Balanced Growth Act (Humphrey-Hawkins Act)
The Act explicitly instructs the nation to strive toward four ultimate goals: full employment, growth in production, price stability, and balance of trade and budget. By explicitly setting requirements and goals for the federal government to attain, the Act is markedly stronger than its predecessor. -
The annual average unemployment rate is 7.1%.
The annual average unemployment rate is 7.1%. -
The Job Training Partnership Act is enacted
The Job Training Partnership Act is enacted to provide federal assistance programs for job training for youth and unskilled adults. The unemployment rate exceeds 10% for the first time since the Great Depression. -
The annual average unemployment rate is 7.2%.
The annual average unemployment rate is 7.2%. -
The annual average unemployment rate is 5.6%.
The annual average unemployment rate is 5.6%. -
President Bill Clinton signs the School-to-Work Opportunities Act
President Bill Clinton signs the School-to-Work Opportunities Act to assist high school graduates who are not continuing to
college with the transition to the workforce. -
The annual average unemployment rate is 5.6%.
The annual average unemployment rate is 5.6%. -
The annual average unemployment rate is 4%.
The annual average unemployment rate is 4%. -
The annual average unemployment rate is 5.1%.
The annual average unemployment rate is 5.1%. -
Department of Labor statistics report a loss of 17,000 jobs
Department of Labor statistics report a loss of 17,000 jobs this month and indicate that "jobless Americans are spending more time looking for work." -
Department of Labor reports that the number of people unemployed for at least 26 weeks has risen to 1.6 million
The Department of Labor reports that the number of people unemployed for at least 26 weeks has risen to 1.6 million--up 37% in the past year. More than 18% of the unemployed have been looking for work for more than 6 months. The Department of Labor reports that only 37% of the people who were unemployed in 2007 received benefits, compared
to 55% in 1958 and 44% in 2001. -
Electronic unemployment filing systems in New York, North Carolina, and Ohio crash
Electronic unemployment filing systems in New York, North Carolina, and Ohio crash amid an unprecedented number of jobless Americans seeking benefits. Web sites and phone systems used to file for benefits experience slow-downs and technical glitches because of heavy user traffic. An analysis by the Economic Policy Institute calls this the steepest rise in unemployment since the recession of the early 1980s. The unemployment rate, at 7.2% nationwide as of December, reaches 10% in some states. -
The federal minimum wage increases by 70 cents to $7.25.
The federal minimum wage increases by 70 cents to $7.25. The new minimum wage--and the resulting higher cost to employers--causes concern for some economists who say that it will lead small businesses to lay off some of the same people the pay increase was intended to help. -
U.S. employers shed 263,000 jobs, causing unemployment to climb to 9.8%
U.S. employers shed 263,000 jobs, causing unemployment to climb to 9.8%, the highest level in 26 years. Employment fell in manufacturing, construction, retail and even in government. Since the recession began in December 2007, the number of unemployed Americans has risen from 7.6 million to 15.1 million. -
Nearly 10 million Americans receiving unemployment insurance
In 2010, nearly 10 million Americans were receiving unemployment insurance, with caseloads peaking at almost 12 million in January. In an effort to trim costs and shift to a more flexible workforce, many companies begin shedding permanent workers in favor of temporary workers, contractors and freelancers. Additionally, American firms continue moving jobs offshore and replacing workers with machines. -
Work-sharing emerges as a viable option
Work-sharing emerges as a viable option to reduce unemployment. It is used in Germany and the Netherlands effectively to maintain a rate of 4% unemployment compared to the U.S. unemployment rate of 10% despite both nations seeing a sharper decline than the U.S. in gross domestic product. -
President Barack Obama signs a six-month extension of unemployment benefits.
President Barack Obama signs a six-month extension of unemployment benefits. This is the eighth such extension of unemployment benefits since July 2008. -
The Missouri Legislature rejects an estimated $105 million in federal money for the unemployed.
The Missouri Legislature rejects an estimated $105 million in federal money for the unemployed. -
The national unemployment rate is 9.0%
The national unemployment rate is 9.0%
