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Period: to
1960s
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Longest Steel Strike in History
Begun in July 1959, ends when the United Steel Workers union and steel companies agree on a wage increase. -
The costliest strike in history
A six-day airline strike finally comes to a end. -
President John F. Kennedy signs th Fair Labor Standards Act
Fair Labor Standards Act, increasing the minimum wage from $1 to $1.25 by September 1963. -
"Flash Crash"
In the single greatest daily loss since 1929, the New York Stock Exchange plummets by nearly $21 billion. Fortunately, stocks quickly rebound. -
Decrease Income Tax Rates
The Tax Reduction Act lowers personal and corporate income tax rates. -
Discount rate reaches its highest in 45 years
In order to control inflation, the Federal Reserve Board raises the discount rate from 4 to 4.5 percent, the highest rate in 45 years. -
United Rubber Workers
A three-month-long United Rubber Workers strike ends with the union signing a three-year contract with tire manufacturers. Five days later, Firestone announces price increases. -
New York Stock Exchange Sets Record
The New York Stock Exchange sets a record with 2.35 million shares exchanged in one day. -
Increase consumer price
Consumer prices increase 6.4 percent since January, the largest rise since 1951.