The Great Depression was time of great economic downturn that lasted up to ten years. It is the worst economic disaster in American history, and had a great impact on life in America. It impacted the economy, the role of the government, home life for Americans, and their leisure time. Many different groups of Americans were affected by it, in some ways good, but mostly bad. The Great Depression impacted life in America in many different ways. It impacted many different people, and many different aspects of society.
Compilation of issues during the Great Depression
One impact of the Great Depression was its impact on the economy. With the stock market crash, the booming economy of the 1920s had come to an end. During the depression, the economy was in great distress, with unemployment hitting its peak at 25%, with nearly 16 million Americans unemployed. Businesses closed or laid off workers, families didn’t even have enough money to buy food or consumer products, and factories and stores shut down. Two groups affected by this were farmers and business owners/industrialists. For farmers, crop prices fell even lower than they already were. For the business owners/industrialists, they suffered substantial financial losses, and were forced to close doors.