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One of the biggest adjustments was the re-entry of soldiers into the civilian labor force. In 1918, the Armed Forces employed 2.9 million people. This fell to 1.5 million in 1919 and 380,000 by 1920. The effects on the labor market were most striking in 1920, when the civilian labor force increased by 1.6 million people, or 4.1%, in a single year.
The 1920s (pronounced "nineteen-twenties" often shortened to the "' 20s" or the "Twenties") was a decade that began on January 1, 1920, and ended on December 31, 1929. . Primarily known for the economic boom that occurred in the Western World following the end of World War I (1914–1918), the decade is frequently referred to as the "Roaring Twenties" or the "Jazz Age" in America and Western ...
The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
During this time, most people believed that the decline was merely a bad recession, worse than the recessions that occurred in 1923 and 1927, but not as bad as the Depression of 1920–1921. Economic forecasters throughout 1930 optimistically predicted an economic rebound come 1931, and felt vindicated by a stock market rally in the spring of 1930.
The stock market rose in early 1930, with the Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. [10] At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year.
As a result of high U.S. tariffs, only a sort of cycle kept the reparations and war-debt payments going. During the 1920s, the former allies paid the war-debt installments to the U.S. chiefly with funds obtained from German reparations payments, and Germany was able to make those payments only because of large private loans from the U.S. and ...
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
He envisioned a future of unbounded plenty and the imminent end of poverty in America. A year after his election, the stock market crashed, and the nation's economy slipped downward into the Great Depression. [47] After the crash, Hoover attempted to put in place many efforts to restore the economy, especially the fast-sinking agricultural sector.