What were the social effects of the Great Depression?

The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 10%.

How much did the stock market go down during the Great Depression?

Over the course of four business days—Black Thursday (October 24) through Black Tuesday (October 29)—the Dow Jones Industrial Average dropped from 305.85 points to 230.07 points, representing a decrease in stock prices of 25 percent.

What happened to the stock market during the Great Depression?

The Crash That Launched the Great Depression The stock market crash of 1929 was a collapse of stock prices that began on Oct. By Oct. 29, 1929, the Dow Jones Industrial Average had dropped 24.8%, marking one of the worst declines in U.S. history.

What social group was most affected by the Great Depression?

After each mini-drama, record the name of the social group depicted and two or three major difficulties the group faced during the Great Depression. African – Americans Strong racism, all jobs and food were given to white people. Charity was only going to the white people. Jobs were given to white people.

Why did stock prices drop so quickly in 1929?

What Caused the 1929 Stock Market Crash? Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.

How did World War 2 Stop the Great Depression?

(Totalitarian regimes in the Soviet Union and Italy predated the depression.) Mobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defense jobs.

What banks failed during the Great Depression?

Depression and Anxiety In December 1931, New York’s Bank of the United States collapsed. The bank had more than $200 million in deposits at the time, making it the largest single bank failure in American history.

How long did it take for the Great Depression to recover?

HISTORICAL stock charts seem to show that it took more than 25 years for the market to recover from the 1929 crash — a dismal statistic that has been brought to investors’ attention many times in the current downturn.