preview

How The Great Depression Shaped America

Good Essays
The Great Depression was not only one of the defining moments in American history, but also one of the most difficult hardships Americans faced. During the Great Depression, which was ignited by the stock market crash of 1929, people faced unemployment, poverty, and changes in government the ultimately shaped America today. Many people believe that The Great Depression began when the stock market crashed on October 29, 1929 (“The Great Depression,” American Express). In the mid to late 1920’s the stock market grew majorly, the stock prices skyrocketed gaining interest from all kinds of people. As stock prices continued to rise, the market became very popular. Eventually the stock prices started to fall during September through early October,…show more content…
One of the main causes of unemployment was the Dust Bowl. Over planting and poor management of the land paired with a serve drought sent farmers into despair. Thousands of farmers lost their property and jobs. The farmers had to move away from their rural areas to urban areas in order to find work, which contributed to the unemployment rate (“Great Depression Facts”). In 1930, 4 million Americans could not find work, and by 1933 thirteen million people were unemployed (“The Great Depression,” History.com). The unemployment rate rose from 3% to 25% by 1933 (DeGrace). People stopped spending money, and this led businesses to slow down production and to start firing workers (“The Great Depression,” History.com). For the lucky ones who managed to keep their job, wages fell. With the trouble of finding jobs, sometimes children would work when their parents couldn’t (“The Great Depression,” American Express). Many people discriminated against women because they were seen as taking job opportunities away from the men. During this time of widespread unemployment, many businesses favored men over the women. The unemployment rate for women was much lower in the 1930’s than it was for the men (“ 50 Interesting Facts
Get Access