Great Depression Effects

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The Great Depression was the most economic downfall in the United States which affected not only the nation but the entire world. This crisis began with the stock market crash of 1929 which caused major failures in output, severe unemployment, and serious deflation worldwide. On Black Tuesday, October 29, 1929, the market lost $14 billion, making the loss for that week an amazing $30 billion. While that may be considered a very little amount present day, thirty billion dollars would be equivalent to $377,587,032,770.41 today. In industrialized countries, a quarter of the labour force was unable to find work in the early 1930 's. This critical point in the world faced many changes, but the most important effects of the Great Depression included …show more content…
During the 1930 's, twenty six states had laws prohibiting the employment of married women. To start off with, single women worked lower paying jobs typically considered "women 's work." While white women worked as sales girls, beauticians, school teachers, secretaries, and nurses, it was much more difficult for African American women in the job market. Most black women served as maids, cooks, or laundresses in any place they were able to find. Next, as industries dominated by men which dealt with steel, rubber, and chemicals began crashing, it led to most men losing their jobs. However, manufacturing businesses where most women worked were not affected as much as the big companies where the men were employed. As husbands got laid off, the wives were forced to go out and look for acceptable jobs and even then, this caused discrimination against married women working. Furthermore, this economic collapse in the United States of America caused inequality and sexism against females. The two main reasons why the society differentiated married women were because of the idea that the females were taking the men 's jobs, and that they were abandoning their families in a time of extreme need. More often not, this discrimination resulted in women getting fired if their employer found out that they were married. For the reasons above, …show more content…
In the first place, countries that produced foods and raw materials saw prices and earnings drop even further than before leading to the rise of unemployment in the export sector of Latin America. Countries such as Chile, Peru, and Bolivia faced the most issues caused by the Great Depression. Similarly, Japan hit rock bottom during the 1930 's when the value of its exports tumbled by 50 percent. The Japanese silk industry was already faced with major competition against the rise of cheaper artificial silk-like fibers produced by Western industries. At this time in Japan, workers ' income plummeted by nearly one-third, and more than three million people resulted in being unemployed. In addition, the Depression caused incredible hardships for Australian citizens. Even before the stock market crash of 1929, Australia 's unemployment rate was already at 10 percent which doubled to twenty-one percent in mid-1930 's. This increasing rate hit its highest point in 1932 when almost thirty-two percent of Australians were out of work. The nation 's government was also weak at the time, as building construction was cut short in the new capital city of Canberra, leaving workers jobless and a population of 7,000 in an indeterminate state. In conclusion, the Great Depression affected not only USA, but many different parts of the world which caused

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