time period of 1935
- The Supreme Court declares the National Recovery Administration to be unconstitutional.
- Congress authorizes creation of the Works Progress Administration, the National Labor Relations Board and the Rural Electrification Administration.
- Congress passes the Banking Act of 1935, the Emergency Relief Appropriation Act, the National Labor Relations Act, and the Social Security Act.
- Economic recovery continues: the GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.
FDR signs legislation creating the Works Progress Administration. (Its name would be changed in 1939 to the Work Projects Administration.) The program employs more than 8.5 million individuals in 3,000 counties across the nation. These individuals, drawing a salary of only $41.57 a month, will improve or create highways, roads, bridges, and airports. In addition, the WPA will put thousands of artists -- writers, painters, theater directors, and sculptors -- to work on various projects. The WPA will remain in existence until 1943.
Business Week magazine announces that "Depression is a forgotten word in the automobile industry, which is forging ahead in production, retail sales, and expansion of productive capacity in a manner reminiscent of the 'twenties.'"