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To quote the hobos' own definitions:
The population of hobos increased during times of economic trouble, and their numbers increased greatly during the Great Depression. With no work and no prospects at home, many decided to travel and try their luck elsewhere.
Nowadays there are few railroad-riding hobos left, though there are still small numbers of them.
Life as a hobo was a dangerous one. In addition to the problems of being itinerant poor far from home and support, and the hostile attitude of many train crews, the railroads employed their own security staff, often nicknamed bulls. These showed little mercy to hobos they found. If that wasn't enough, riding on a freight train is highly dangerous. One can easily fall under the wheels or get trapped between cars, or freeze to death in bad weather. When freezer cars were loaded at an ice factory, any hobo inside was likely to be killed. Hobos tended to band together for protection and formed an informal 'brotherhood'.
Hobos in fiction:
Nonfiction about hobos: