It all started after the stock market crashed on October 1929 in which millions of investors were wiped out and many tragedies followed. During this decade, consumer spending reduced to a trickle, so companies were not getting much revenue. The level of industrial output dramatically declined and companies had to let go of millions of employees. According to the History Channel, by 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed. .This is a dramatically large number of unemployment which is known to be the biggest unemployment percentage in
It all started after the stock market crashed on October 1929 in which millions of investors were wiped out and many tragedies followed. During this decade, consumer spending reduced to a trickle, so companies were not getting much revenue. The level of industrial output dramatically declined and companies had to let go of millions of employees. According to the History Channel, by 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed. .This is a dramatically large number of unemployment which is known to be the biggest unemployment percentage in