Disadvantages. An employment contract is not a one-way street. The contract binds both you and the employee, so it limits your flexibility. This may pose a problem if you later decide that you don't like the contract terms or the needs of your business change.
About the Great Depression. The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.
How To Survive The Great Depression Bank Failures During The Great Depression Economists can debate whether bank failures caused the Great Depression, or the Great Depression caused bank failures, but this much is undisputed: By 1933, 11,000 of the nationâs 25,000 banks had disappeared. Click here for more facts about banks and bank failures during the Great Depression. The run on Americaâs banks began immediately following the stock market crash of 1929. Overnight, hundreds of thousands of customers began to withdraw their deposits.