History The Great Depression Questions
The Great Depression significantly impacted unemployment rates. During this period, unemployment rates skyrocketed to unprecedented levels. By 1933, the unemployment rate in the United States had reached a staggering 25%. This meant that approximately one in every four individuals in the workforce was unemployed. The economic downturn led to widespread job losses across various industries, as businesses struggled to stay afloat or closed down entirely. The high unemployment rates resulted in severe financial hardships for millions of families, exacerbating the economic crisis and further deepening the impact of the Great Depression.