aug 1, 1929 - The Great Depression

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The Great Depression began in August 1929 after the stock market crash, which proceeded to collapse of world trade, bank failures, and collapse of money supply. The Depression started in the US and affected nearly every country in the world, causing mass unemployment, poverty, and homelessness. In the height of the Great Depression in 1933, 12,830,000 people were unemployed. Money lost almost 90% of its value, and around 11,000 banks failed during the Depression, closing many families off from their savings.
Family life also went downhill during the Depression. Marriages became strained, and since families couldn't afford divorce, abandonment rates rocketed. Families were evicted from their homes and ended up on the streets because of high mortgage rates, and children were forced to drop out of school to help support their family.
The Great Depression finally ended in 1939 after the wartime economy put many people back to work and filled factories to capacity.

References;

Duignan, B. (2019). Causes of the Great Depression. In: Encyclopædia Britannica. [online] Available at: https://www.britannica.com/story/causes-of-the-great-depression.

Ducksters (2019). US History: The Great Depression for Kids. [online] Ducksters.com. Available at: https://www.ducksters.com/history/us_1900s/great_depression.php.

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