THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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decreased slightly
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increased dramatically
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stayed about the same
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increased slightly
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Detailed explanation-1: -In the United States, unemployment rose to 25% at its highest level during the Great Depression. Literally, a quarter of the country’s workforce was out of work. This number translated to 15 million unemployed Americans. As the Depression spread worldwide, it rose as high as 33% in some countries.
Detailed explanation-2: -How high was unemployment during the Great Depression? At the height of the Depression in 1933, 24.9% of the total work force or 12, 830, 000 people was unemployed.
Detailed explanation-3: -As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically. By 1932, one of every four workers was unemployed. Banks failed and life savings were lost, leaving many Americans destitute. With no job and no savings, thousands of Americans lost their homes.
Detailed explanation-4: -What were the major causes of the Great Depression? Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.