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Jordan R | What was so bad about the great depression? |
If I'm not mistaken, 75% of people had jobs. Why was the great depression so bad? |
 |
 
mclovin35@ymail.com
|
It is true unemployment was only at 20%, but most of the jobs where low paying jobs. This is why money was worthless. There was about 5% of the population that had a good paying job. In contrast to today's economy where it is the other way around. This is also where the phrase "Its good work if you can get it" came from.
So it wasn't that there were no jobs. Its just that the jobs that were there didn't pay at the same rate as inflation. Imagine if everyone in america was working at fast food. The dollar would be worthless. |
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Jack P
 |
75% of WORKERS not people had jobs. That does not count people who do not work like children and the elderly. That means 25% of people that needed to work, could not.
You may see it again, soon. |
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ontopofoldsmokie
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The dollar value dropped like a stone. Unemployment was very, very high 25%unemployment is very high. Banks were failing left and right-meaning that your money in those banks dissipated.
You couldn't find work. Your money was worthless. Businesses and banks were failing. It was extremely bad times. No food, goods or services. |
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Ben B
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well, considering that a 25% unemployment rate is basically 300% above the current unemployment rate...also that almost every bank in the US did not make it through at that time...plus there was no FDIC insured money. Oh, we are in a cakewalk compared to then. |
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gopreds227
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the fact that money was worthless! |
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Brennen H
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because everyone was depressed |
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runescape nerdz
 |
There were not too many good paying jobs and there were a limited amount of food so a lot of people died, and a lot of people lost their homes and were on the streets. But many people back then had larger families too so they also could not get as much food.
13 million people became unemployed.
Industrial production fell by nearly 45% between the years 1929 and 1932.
Home-building dropped by 80% between the years 1929 and 1932.
From the years 1929 to 1932, about 5000 banks went out of business. |
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carmac
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Because money wasn't worth much, what money people did make, was not much help. Most people had to sacrifice so much for their families. Let's hope that we will not have to go through that. |
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i0yalt3y
 |
money wasnt worth much
inflation
economy bad |
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Joe M
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in the great depression the rich kept getting richer and the mid class had lost all their jobs, homes, money etc. it was really rough on the mid class people during the great depression because the rich had everything and the mid class lost everything they had and became poor |
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little miss
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the bank runs
the banks didnt have the money that the people put into them
so the people lost all their savings |
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