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GNP and unemployment rates

Government spending increased from 8.0% of the gross national product (GNP) under Hoover in 1932 to 10.2% in 1936. The national debt as a percentage of the GNP had more than doubled under Hoover from 16% to 40% of the GNP in early 1933. It held steady at close to 40% as late as fall 1941, then grew rapidly during the war. The GNP was 34% higher in 1936 than in 1932 and 58% higher in 1940 on the eve of war. That is, the economy grew 58% from 1932 to 1940, and then grew 56% from 1940 to 1945 in five years of wartime. Unemployment fell dramatically during Roosevelt's first term. It increased in 1938 ("a depression within a depression") but continually declined after 1938. Total employment during Roosevelt's term expanded by 18.31 million jobs, with an average annual increase in jobs during his administration of 5.3%.