Unemployment In The 1930's

Unemployment is one of the most important topic in the economic world not only in the U.S. but also in the world. It is so important that depending on how unemployment goes it depends on how people live and how a country functions.

Unemployment in the U.S. has been a problem ever since the 1930’s when it first flared up at its highest unemployment 13 to 15 million people were without a job. This was all as a result of the great depression, what many believe was one of the worst and longest economic crisis in the United States. Before the great depression the unemployment rate was around 5%. Then during the worst part of the great depression it was at 23% it affected many people’s lives. The reason why there was a high percent in the 1930’s was because there was there was full employment at 5% which meant that there was a lot of output but there was not enough money in the economy so they couldn’t sell all of that output. …show more content…
The reason they say that was because during the war they needed to make weapons so they hires a lot of people in the warfare industry which resulted in a low percent of unemployment.

Ever since then people have been paranoid on whether unemployment is going to go up or down. The reason is because everyone gets affected by this families need to cut down on many things, business start getting less business because there is not enough money in the households to send on luxuries and the government needs to spend more money in benefits and paying the