Great Depression (aug 1, 1929 – mar 1, 1933)

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The worldwide economic decline known as the Great Depression began in 1929 and lasted until about 1933. It caused a major slowdown in the economy, severe unemployment, extreme human suffering and changes in economic policy. The Depression affected nearly every country of the world after first starting in the US. In 1929, unemployment was around 3%. The average family income dropped by 40% during the Great Depression.

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