this is an image from the article, "The RelationBetween Unemployment and Rate of Change ofMoney Wage Rates in the United Kingdom, 1861-1957 by A. W. PhillipsI need someone to tell me in one paragraph whatthis graph shows.

294 ECONOMICA [NOVEMBER 32 - Curve fitted to 1861-1913 data 19 28- 16 24- 17 20- 16- 9 16 12- 46 8 - 15 45 Rate of change of money wage rates, % per year 39 36 4448 20 15 29 25 38 35 27 26 32 28 31 - 4- -12- -16- -20- -24- 2 4 6 8 10 12 14 16 18 20 22 Unemployment Fig. 9 1913 - 1948