Many people took out loans and it caused the banks to go bankrupt
Two unemployed men standing in the street with nothing to do
Unemployment statistics revealed the impact of the Depression on Americans. In 1929, the U.S. Labor Department reported that there were nearly 1.5 million persons without jobs in the country. After the crash, the figure soared. At its peak in 1933, unemployment stood at more than 12.6 million without jobs, although some estimates placed unemployment as high as 16 million.