Some Basic Great Depression Facts
Before you dwell into the subject of the Great Depression, you need to know about some basic Great Depression facts which can help you in understanding this crisis which gripped the world in 1929. In a nutshell, this is regarded as the worst economic crisis which the world has seen till date and it went on from 1929 to the late 1930s. The basic Great Depression fact is that it all started with a market crash which happened on the 29th of October, 1929 and continued to spread to the entire world, gripping the world in a decade long economic recession. Black Tuesday, the name given to 29th October 1929, was the beginning of this avalanche which took the entire world economy with it. Apart from these basic Great Depression facts, there are some interesting facts which can give you the complete idea about the Great Depression of the 1930s.
Interesting Great Depression Facts
Even though the Great Depression was one of the most prominent events of the 21st century, there have been some interesting Great Depression facts which have been ignored by most in the analysis of the economic slowdown. One of the most interesting facts about the Great Depression is that Black Tuesday, or 29th October 1929, wasn’t the starting of the market crash. The starting was September 4, 1929 when the fall in stock prices had just begun. Even though the Great Depression originated in the USA, it quickly spread to the entire world and affected almost every aspect of the economies of the world. The Great Depression 1930s is still considered as the worst period which this world has witnessed till date.
Great Depression Unemployment Facts
One of the most prominent features of the Great Depression was the unemployment rate. The Great Depression unemployment facts put the unemployment rate to be 25% at least for most countries, with 33% being the worst rate in some countries. Every sector suffered in terms of employment and no industry was spared from the wrath of the Great Depression of the 1930s. The US government made plans and projects to increase this rate of unemployment in the nation and these were beneficial in some way for providing employment, food and some improvement in the standard of living which had severely plunged during this period, according to most Great Depression facts.