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272 WORLD~CRISIS: INDUSTRIAL REVOLUTIONS
And y~t in .Germany the post~war years (1919~ 1922)
were not years of unemployment. On account of
currency inflation and the export possibilities engendered
'by the fall of the Mark, German industry was in a position
to keep this extraordinarily large working population fully
. employed. The unemployment figures for this period,
. therefore, are hardly noteworthy by the side of that in
1913 .9 The following table will illustrate the position:
Year Unemployment Year Unemployment
1913 : 2.9 per cent. 1920: 3.8 per cent.
1919: 3.7 1921: 2.8
1922 : 1.5 per cent.
We find that in post~war years the German labour
. market was the exact antipodes of the British labour
market, there being very little unemployment in Ger~
many. The 'currency inflation succeeded in hiding from
the world the real employment situation of Germany. As.
soon as the currency was stabilised and economic enter~
prise placed on normal conditions Germany began to
exhibit the same tendencies as Great Britain in regard to
the aabour market. The ryear from Q:tober1923 to
September 1924 marks the beginnings of stabilisation and
this is for Germany the first period of unemployment too .
. For instance, we have the following figures :
9 . Probleme~. etc .• p. 114: For previous years (in each case at
.. January) the unemployment index was as follows: 1910: 2.6%. 1911:
. 2.6%. 1912: 2.9%.