THE GREAT DEPRESSION 1929 1940
THE WALL STREET CRASH OF 1929
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1.5 million
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2 million
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2.5 million
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3 million
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Detailed explanation-1: -The consequence of this was a sharp rise in unemployment which increased from 2.5 million at the end of 1929 to over 13 million by the end of 1932.
Detailed explanation-2: -Then the Wall Street crash of 1929 led to a worldwide economic depression. The Australian economy collapsed and unemployment reached a peak of 32 per cent in 1932.
Detailed explanation-3: -Between 1929 and 1933 the unemployment rate increased by over 20 percentage points, according to the Lebergott series, or by 17 percentage points, according to Darby’s series. For the remainder of the decade, the unemployment rate stayed in, or hovered around, double digits.
Detailed explanation-4: -In 1929, 3.2 percent of America’s civilian labor force was unemployed. Unemployment rose to 8.7 percent in 1930, and by 1933, the rate had risen to 24.9 percent.