Unemployment During The Great Depression

Many believed that Black tuesday began the Great Depression, on October 29, 1929 a group on panicked sellers traded nearly 16 million shares on the New York Stock Exchange causing the Dow Jones Industrial Average to fall. Others believe it was the stock market crash in 1929, or that Black tuesday was just the begining triggering the stock market to crash causing the Great Depression. As soon as president Franklin D. Roosevelt came into office he began searching for ways to better American life as quickly as possible. He proposed a series of programs through The New Deal, these programs created jobs for many unemployed men, while others offered aid, created the FDA so people know whats in the products they're purchasing, and banking acts to

The stock market crash, called Black Tuesday. Unequal distribution of wealth was a key factor during the time period as well. The day know as “Black Tuesday” was the day the stock market crashed. This led to the fall of stock prices, in fear, people sold their stocks and gathered the money they could. The people who didn’t, lost all of their stocks. Those who bought them on credit, they were now in debt. Investors lost a collective amount equal to the amount spent in WWI, that’s billions of dollars gone, approximately thirty-two billion dollars (32,000,000,000). As bad as the crash was, unequal distribution of wealth did not help. The rich saw an income increase of 70%, and the poor saw an increase of 9%. More than 70% of families earned less than $2500/year. Many of these families couldn't afford household products, such as the flood of overproduced goods. Only one out of ten families owned an electric refrigerator. One thing many people overlook when on the subject of the Great Depression is the president's influence on the situation. The two presidents during this time were Herbet Hoover and Franklin D. Roosevelt. Hoover was in office during the collapse of the economy, he didn’t believe in national relief, he believed in self-prevalence and self-help. His beliefs didn’t get the confidence of the people, in 1933, a fourth of working American’s were out of a job, that’s more than fifteen million people unemployed. Many people disliked Hoover, so when they needed to make a home out of paper, glass, tin, or whatever they could find, they named the towns constructed from these items “Hoovervilles”. They were found mostly on the outside of cities. Hoover's idea of self-reliance didn’t get him reelected, he lost to Franklin D. Roosevelt in 1933. Roosevelt brought forward a new strategy to take on the economic problems, it was called the New Deal. The New Deal was a series of actions him and his

FDR’s court packing plan was quick-witted and astute. The Executive branch was voting against every federal law that involved any congressional delegation of lawmaking power. The supreme court began to strike FDR’s New Deal which was extremely crucial in having America recover after the crash. The crash caused the run on the banks and the Great Depression. People began to lose trust in the government and without the trust of the government how could the country grow and succeed as a nation. Unemployment was higher than ever and people lost their homes. America needed to find a way to bounce back from such a crisis, someone needed to give them aid and give them hope in the nation again. FDR was only trying to figure out a way to have his New

Now, more than a century later, Pine Ridge is an area of manifest paucity, ranking in the top five counties for the highest rates of poverty over the last 30 years. It suffers from persistently high levels of unemployment, more pronounced that those experienced across the U.S. during The Great Depression (Pickering and Mizushima, 2008: 16). The unemployment rates range from 70 to 85 percent over the last fifteen years. As a result of early governmental policies, fewer than 5 percent of households in Pine Ridge take part in agricultural production. Attempts to bring in factory work have also been ineffective. This has led to almost 50 percent of households receiving some form of public assistance (Pickering and Mushinski, 2001: 4).

Cecchetti, Stephen G. "Understanding the Great Depression: Lessons for Current Policy ." Monetary Economics (1997): 1-26.

Perry 1 In the 1930’s many families had little money because of the depression and the war. When the war started nearly the entire workforce was made up of women and teens. Many of the men in America were either drafted into the war or had to get jobs to support their families with what little money they earned. Many of the families during this time were extremely poor and had to go to bread lines for them to even have food.

This only deteriorated as businesses would suffer financially and unemployment was at an all the time high. Although President Franklin D. Roosevelt came up with tactics and strategies to lessen the effects of the damage done, the economy wouldn’t fully overcome until after 1939 as World War II shifted America. For a little over a decade, businesses would go through financial turmoil and people would have to find other ways to bring in revenue. During the late summer of the 1929, the American economy entered into a recession. According to the Merriam-Webster Dictionary, a recession is defined as a period of reduced economic activity. Investors had traded some 16 million shares on the New York Stock Exchange in a single day. That day in history was formally known as “Black Tuesday”. Those same shares had ended up being worthless with no monetary value. The investors who bought them with borrowed money, suffered an excessive lost. Consumer reliability was gone as spending was nonexistent which resulted in factories being closed down. The lack of consumerism also impacted those who had invested in mass production. The consumers who still felt a need to spend, were forced to use credit cards and evidently fell into major debt; foreclosures on homes and repossessions climbed rapidly as people tried their best to live again and have that

On a day known as Black Tuesday, October 29, 1929, will always be a day the people of the United States will always remember. The stock markets were increasing for a decade, when it had plunged on Black Tuesday. Some people had lost everything, from the houses they owned or their jobs to banks crashing, this became a depressing time, known as the Great Depression. At this time Herbert Hoover was in control, and he thought that eventually everything would be back to normal. When the crash of banks started in December of 1930, Hoover had hoped that this had been the beginning of the Depression. Hoover knew that there needed to be a change, so he drafted and submitted a bill to Congress, known as the Revenue Act of 1932. The purpose of the act was to balance the federal budget and to maintain national credit. The act had raised the axes on wealth, estate tax, and corporate taxes. The impact of this act had made a large middle class, it raised the top income rate from 25% to 63%, and it made the Depression worse. However, the Revenue Act of 1932 had

‘The hardships of the Great Depression in Australia were not shared equally.’ (Anderson et. al.,2012)

The Great Depression lasted between the years of 1929 and 1939. During this time unemployment rates rose to an all time high and many people such as entrepreneurs, factory workers, and farmers were all put out of business once the economy failed. When farmers were out of work in the eastern parts of the United States, they traveled west because of the good land there. In Lester Hunter’s poem he spoke of this and said “ From the east and west and the north and south like a swarm of bees we came; the migratory workers are worse off than a bum” (Hunter). Once they did this some unforeseen circumstances appeared, this was the beginning of the Dust Bowl. Many farmers traveled west because they thought the land was prime for planting wheat crops.

The Great Depression was a time of high unemployment rates and an unsustained economy that was triggered in part by the stock market crash in 1929, but mostly occurred due to the problems in the industry and agriculture during this time. In the housing industry, there were issues surrounding the shortage of houses that were being built during this time. This lead to an immediate decline in need for glass, wood, and other construction materials subsequently causing these industries to fail as well. The coal industry plummeted about 50% after the recent discoveries of power from hydroelectric sources, natural gas, and oil. This was similar to the decline of the railroad industry due to the rise of trucks, busses, and cars as the primary sources of transportation. Agricultural demand significantly decreased following the end of World War I leaving many farmers (who had taken out loans from the bank to pay for increased production) broke and with an excess amount of produce that they could not sell for a substantial price. President Herbert Hoover was elected in 1928, during which the economy and the country were thriving. However, the Great Depression struck in 1929 which plummeted the country into a state of high unemployment in which many citizens of the country lived in a state of hunger and poverty. Over 90,000 businesses were forced to close and millions lost their savings due to bank failures. During this time, Hoover had several philosophies, all of which

“Black Tuesday” is cited to be the day that the Stock Market Crashed on October 19, 1929, and it is believed to have been the beginning of the Great Depression (Schultz). This led to many catastrophes in the United States economic system that lasted ten years, from 1929-1939 (Schultz). During this time period consumer spending declined, unemployment increased, and a severe drought throughout the U.S led to a reduction in agricultural labor, which resulted in even more unemployment (Schultz). Nevertheless, out of this crisis President Roosevelt created programs, throughout his presidency, in hopes of bettering the United States economy. These programs would eventually be called the New Deal and Second New Deal programs. These programs were

Black Tuesday, October 29, 1929 was the official beginning of The Great Depression, the day the stock market crashed. The stock market business was the way of getting rich, now was a way to go bankrupt. The government determined people invested in stocks lost $40 billion. People were so far in debt that they could not pay back the banks. 13 to 18 million people across the world had no work

The America in the 1930s was drastically different from the luxurious 1920s. The stock market had crashed to an all time low, unemployment was the highest the country had ever seen, and all American citizens were affected by it in some way or another. Franklin Delano Roosevelt’s New Deal was effective in addressing the issues of The Great Depression in the sense that it provided immediate relief to US citizens by lowering unemployment, increasing trust in the banks, getting Americans out of debt, and preventing future economic crisis from taking place through reform. Despite these efforts The New Deal failed to end the depression. In order for America to get out of this economic

Despite being a world-renown playwright, William Shakespeare remains to this very day a man with a past shrouded in mystery. Very few documents provide historians insight on his personal life. In fact, the record of Shakespeare in his earliest years is limited to a mere baptismal record that reveals his birth date to be around April 26, 1564. Fifty-two years later from that day, Shakespeare would be interred at Trinity Church. Born near London in the town of Stratford-upon-Avon as the third child to John Shakespeare, the local alderman and bailiff, Shakespeare is believed to have attended King’s New School because his father held an official position. Shakespeare did not receive any higher level education, however. Hardly anything else is known of the young William Shakespeare’s childhood.