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Unformatted text preview: companies the luxury to under pay for qualified better labor. Because of the crash in the stock market companies were forced to cut jobs and save as much money where they could. With such a drastic change in the economic well being of the country many companies could not make it and closed their doors and many jobs were cut forcing a substantial spike in unemployed workers. While some businesses made it through the initial fallout in the economy they could give their people lower wages in order to stay in business. Most of the people still employed dealt with many negative changes just to keep their jobs. Lower wages would be one of the first changes followed by many company benefits. Because the great depression lasted many years the supply of labor stayed high which helped contribute to a slow economy. The effects of the high supply of labor resulted in the demand to stay low for many years....
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This note was uploaded on 04/06/2012 for the course XECO/212 XECO/212 taught by Professor Troymahone during the Spring '11 term at University of Phoenix.
- Spring '11