Labor's decline ended by the end of the 1920s with the introduction of "welfare capitalism," a compromise system acceptable to big business.

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Labor's decline did not end by the end of the 1920s with the introduction of "welfare capitalism." While welfare capitalism, which included improved benefits and working conditions for workers, was introduced by some companies to stave off unionization and improve worker productivity, it did not mark the end of labor's decline. The Great Depression, which began in 1929, further exacerbated labor's challenges, leading to high unemployment and worsening working conditions for many.

Labor's Decline Ended by the End of the 1920s with the Introduction