Abstract
At the beginning of the graph (year 1895), the British unemployment was at quite a high level, about 10% of the population. It was probably a consequence of the 'Great Depression' which took place between 1873 and 1895. Then, the unemployment rate dropped substantially to 2.5% in 1890, but immediately bottomed out to 7.5% a few years later. The rate fell sharply until 1895, and then more slightly until 1900. Between 1900 and 1905, the British unemployment rose steadily to 6% of the population, because of the overproduction crisis in Europe.
