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The Great Depression was the worst economic downturn in the history of the industrialized world. It lasted from 1929 to 1939, and began after the stock market crash of October 1929. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output. this caused mass unemployment as failing companies were forced to lay off workers. By the peak of the Great Depression about 15 million Americans were unemployed and nearly half the country’s banks had failed.

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Due to the roaring twenties the stock market underwent rapid expansion, reaching its peak in August 1929.

The American economy entered a mild recession during the summer of 1929, as consumer spending slowed and unsold goods began to pile up. Factory production slowed, but stock prices continued to rise. By the end of the year the prices had reached levels that couldn’t justify expected future earnings.

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On October 24, 1929 the stock market crash that some had feared happened at last. A record 12.9 million shares were traded that day, known as “Black Thursday.” Five days later, on "Black Tuesday" 16 million shares were traded. Millions of shares ended up worthless, and those investors who had bought stocks with borrowed money were wiped out completely.

Wages fell and buying power decreased. Foreclosures and repossessions climbed steadily.

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Stock Market Crash of 1929 Exclusive Videos & Features - HISTORY.com

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Check out exclusive Stock Market Crash of 1929 videos and features. Browse the latest Stock Market Crash of 1929 videos and more on HISTORY.com.

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There was a mass migration as people moved to look for work.

Crime rates rose along with suicide rates

Birth rates fell

Alcoholism increased

Blues style music became popular

Poverty rates rose

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With Roosevelt's election a "bank holiday" was announced during which  Congress could pass reform legislation and reopen those banks determined to be sound.
During Roosevelt’s first 100 days in office, his administration passed legislation that aimed to stabilize industrial and agricultural production, create jobs and stimulate recovery.

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World War II Begins and the Great Depression ends

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World War II Begins and the Great Depression ends

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With Roosevelt’s decision to support Axis Powers, defense manufacturing geared up, producing more private sector jobs.

The Japanese attack on Pearl Harbor led to America’s entry into World War II and the nation’s factories went back in full production mode, reducing the unemployment rate to below its pre-Depression level.
The Great Depression had ended at last, and the United States turned its attention to the global conflict of World War II.

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The New Deal was a series of programs and projects instituted during the Great Depression by President Franklin D. Roosevelt that aimed to restore prosperity to Americans
These included:

The Tennessee Valley Authority

The Works Progress Administration

Social Security Ac

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Watch Franklin D. Roosevelt's New Deal Clip | HISTORY

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Watch the Franklin D. Roosevelt's New Deal video clip of HISTORY. Find this and many more videos only on HISTORY.