Search results
Results from the WOW.Com Content Network
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity, industrial production, and trade; and widespread bank and business failures around the world.
The Great Depression of 1929–32 broke out at a time when the United Kingdom was still far from having recovered from the effects of the First World War. Economist Lee Ohanian showed that economic output fell by 25% between 1918 and 1921 and did not recover until the end of the Great Depression, [3] arguing that the United Kingdom suffered a 20-year great depression beginning in 1918.
The NUWM was founded by Wal Hannington and led in Scotland by Harry McShane.From 1921 until 1929 it was called the National Unemployed Workers' Committee Movement. The NUWM became the foremost body responsible for organising the unemployed on a national basis in the interwar period, these years being characterised by high levels of unemployment.
US annual inflation rate is −6.4%. Unemployment reaches 9%. 1,350 banks fail. April 17: Dow reaches a secondary closing peak (i.e., bear market rally) of 294.07, followed by a long stagnation until a severe decline began in April 1931. This peak matches early-1929 levels, but is 30% below the September 1929 peak.
Unemployment was the dominant issue of British society during the interwar years. [1] Unemployment levels rarely dipped below 1,000,000 and reached a peak of more than 3,000,000 in 1933, a figure which represented more than 20% of the working population. The unemployment rate was even higher in areas including South Wales and Liverpool. [1]
Updated with 2012 Q1 data from en:List of countries by unemployment rate, changed colors. Used latest version of File:BlankMap-World-Microstates.svg as base, because the original had hardcoded colors. 13:50, 24 January 2010: 940 × 415 (1.61 MB) Jolly Janner: Updated Bosnia and Herzegovina. 13:49, 24 January 2010: 940 × 415 (1.61 MB) Jolly Janner
Unemployment in Canada reached 27% at the depth of the Depression in 1933. [142] In 1929, the U.S. unemployment rate averaged 3%. [143] WPA poster promoting the benefits of employment. In the US, the Works Progress Administration (1935–43) was the largest make-work program.
Throughout the industrial world, cities were devastated during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as the steel and automotive industries. Service-oriented cities were hurt less severely.