Disadvantages. An employment contract is not a one-way street. The contract binds both you and the employee, so it limits your flexibility. This may pose a problem if you later decide that you don't like the contract terms or the needs of your business change.
About the Great Depression. The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.
The Great Depression. It began in the wake of the stock market crash of October 1929 and lasted until at least 1933. The end varied somewhat from country to country, and there is some disagreement as to when it ended in the US. Programs to address the Depression began in earnest in 1933 after the election of Franklin Delano Roosevelt. But the after-effects continued until World War II in 1941. The Great Depression was a massive global economic recession (or depression) that ran from 1929 to 1941.