Five interesting facts about the Great Depression
It began 89 years ago today
On this date (Oct. 29) in 1929, “Black Tuesday” descended upon the New York Stock Exchange. Prices collapsed amid panic selling, and thousands of investors were wiped out as America’s Great Depression began.
Money was scarce
The average income of the American family dropped by 40 percent from 1929 to 1932. Income fell from $2,300 to $1,500 per year.
1 out of 4 jobless
The unemployment rate between 1933 and 1934 was one in four people (25 percent). It would not fall below 10 percent until the Second World War began.
Farmers hit hard
About 750,000 farms were lost through sheriff sales or through bankruptcy during the Great Depression.
Children hurt, too
It is estimated that almost half of the children in the United States did not have enough food, proper housing or medical care during the Great Depression.