The bank survived various economic downturns and crises, including the Great Depression, ultimately emerging stronger. High leverage magnifies profits during boom periods and losses during downturns. Economic downturns and bad harvests during the 1840s contributed to growing discontent. Academic institutions are often less vulnerable than corporations to forces like global economic downturns. Economic downturns in the early and mid-2000s affected the company. Such a drop in fur prices reflects trends of previous economic downturns. Also, clubs may continue to hire women even during bad economic downturns. New graduates also had their start dates deferred during these economic downturns. Without branches and national diversification, banks were subject to local economic downturns. There were three economic downturns in the early 19th century. The industry, however, is not immune to economic downturns. The general upward trend has been punctuated by severe downturns. Continuing downturns in employment prospects further increased the needs for various social services. One of the downturns of his administration was his experience in handling migrant workers protection.