Editing Underemployment equilibrium (section)

===Underemployment during the Great Depression===
During the 1930s, [[Great Depression]], U.S. unemployment rate reached 25% and GDP growth rate fell to −13%.[7]  The U.S. economy at this period can be characterized by an underemployment equilibrium. On the one hand, many outside forces (including financial instability, hyper-inflation, lack of capital, etc.) created a negative shock to the demand of job market. On the other hand, the first two decades of the 20th century saw rapid advancement in production technologies, which effectively eliminated a large number of skilled jobs. Both of the above forces help create an insufficient demand of labor market during that time, causing an underemployment equilibrium. This particular underemployment equilibrium takes form of overqualification, characterized by high unemployment rate and low household incomes.