How Did The Great Depression Affect Hardworking People In The 1920s

When people buy something, they usually focus on what they want rather than what they need. In the 1920’s, people were more focused on luxuries than necessities. Soon after many purchases were made on credit, money and jobs weren’t as easy to come by anymore. This time span of over 10 years was known as the Great Depression, and its effect on the hardworking people of America was unforgettable.

The stock market had an important role in the booming 1920’s. Everyone was buying and selling stocks at a high rate for a few years. Then, on October 24th, 1929, the stock prices were dropping lower and lower forcing people to sell them quickly. In the article “Firing, Not Hiring”, the author states, “Stocks were selling a fraction of the price” (Hayes). Sooner or later people who did not sell their stocks before lost a large sum of money. Hayes also writes, “People who invested heavily in the stock market lost large fortunes”. These people were hit the hardest due to investing a large sum and only selling just a fraction of their worth.

As time went on, the unemployment rate increased up to 25%. In “Firing Not Hiring”, it reads “By 1930, millions of people across the country were unemployed” (Hayes). These people were unemployed and could not find a stable job that could produce enough money for them. Many citizens had to come up with ways to earn money for themselves and for their families. Hayes states, “For the next few years men, women, and children were selling five-cent apples on street corner”. Selling five-cent apples were extremely common across the area because of how unstable the employment rate