What did a survey of 1928 show?
A survey of 1928 showed that 60% of American families earned less than $2000 a year - the minimum needed to survive .
During the 1920s, why did share prices kept rising
During the 1920s as more and more Americans bought shares on the stock exchance, share prices kept rising .
What happened in 1928?
In 1928, share prices did not rise as much as in previous years. Many companies were not selling as many goods, so their profits fell and people were less willing to buy their shares .
What happened to banks in 1929?
In 1929 alone, nearly 700 banks collasped .
What were the Economic Effects of the Depression o
The value of goods sold in shops fell by 50% .
The total welath produced by the country fell by just under 50% .
About 10,000 banks stopped trading .
Thousands of companies went out of business . 20,000 went bankrupt in 1932 alone .
The number of unemployed workers rose from 1.5 million to 12.8 million .
Farm income and the wages of farmworkers fell by 50% .
What were the Social Effects of the Depression on
Unemployment reached 25% of the workforce by 1933 .
In Chicago, nearly half the labour force was unemployed in 1933 .
For those in work, wages were cut by 25% .
In 1932 alone, a quarter of a million Americans lost their homes .
The number of Americans committing suicide rose during the Depression to a peak of 23,000 in 1932 .