The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.
Interesting Facts About the Great Depression
The stock market lost almost 90% of its value between 1929 and 1933.
Around 11,000 banks failed during the Great Depression, leaving many with no savings.
In 1929, unemployment was around 3%. ...
The average family income dropped by 40% during the Great Depression.
On the surface, World War II seems to mark the end of the Great Depression. During the war, more than 12 million Americans were sent into the military, and a similar number toiled in defense-related jobs. Those war jobs seemingly took care of the 17 million unemployed in 1939. ... We merely traded debt for unemployment.
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