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For the same reason they do today. All employed persons dread the prospect of unemployment. Clearly, this threatens their ability to pay rent or make mortgage payments.

But until the advent of organized labor and certain government programs, there was no unemployment insurance for workers, and striking workers did not receive any assistance from the unions. And there was no public welfare system to provide minimum incomes for those unable to find work.

Today's unemployment payments are limited, but in many cases have been extended for longer periods. This mitigates the impact of layoffs and downsizing in some industries.

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