Could we be facing the same 25% unemployment rate in the near future?? This is getting scary. But in the '30's people knew how to garden, can and preserve, and to actually cookmeals from scratch. and how to sew or patch clothing, and fix their car. We have lost many of skills that our grandparenrts used to survive the great depression.
Stu
A Case of Unemployment
The decade of the 1930s saw the Great Depression in the United States and many other countries. During this decade large numbers of people lived in poverty, desperately in need of more food, clothing, and shelter. Yet the resources that could produce that food, clothing, and shelter were sitting idle, producing nothing.
At the worst point of the Great Depression, in 1933, one in four Americans who wanted to work was unable to find a job. Further, it was not until 1941, when World War II was underway, that the official unemployment rate finally fell below 10%. This massive wave of unemployment hit before a food stamp program and unemployment insurance existed. There were few government programs designed to help the poor or those in temporary difficulty. Further, most wives did not work, so if the husband lost his job, all income for that household stopped. An equivalent rate of unemployment today would cause less economic hardship because of the variety of programs (often inspired by the Great Depression) that cushion unemployment and poverty.
Many people date the beginning of the Depression at October 24, 1929, Black Thursday, the day the stock market crashed. This was indeed a traumatic day for those who owned stock as sales volume broke all records. But the decline in overall stock prices was only about 2.5%, from 261.97 to 255.39 as measured by the New York Times index of 50 stocks. Most of the decline still laid in the future; the market hit bottom on July 7 of 1932 when the Times index was only 33.98, a decline of over 89% from its high of 311.90 of September 19, 1929.
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http://ingrimayne.com/econ/EconomicCatastrophe/GreatDepression.html