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The Great Depression
The Great Depression had a lasting impact upon every generation of living Americans. This economic and social crisis affected Californians, Texans, Floridians, and New Hampsherites. During the three year period of 1929 - 1932 the United States will lose 1/2 of its Industrial output and 25% of Americans will be umemployed. The Economic effects of this time period often overshadow the other significant societal changes of the era. For Example, the labor force of the United States began to move away from rural agricultural industries and into modern urban Industrial centers in the Northeast and the Midwest. Another significant demographic pattern was the population and subsequent economic boom of the Southe West, in particular Southern California. The map below highlights the economic and sociological
impact of the Great Depression on North America.
Unemployment is defined as "not being engaged in gainful occupation". Some modern economists and historians believe that there is an acceptable level of unemployment in a prosperous Industrial free-market economy. During the period of 1969 - 2005 the highest rate of unemployment was 10.8% in December of 1982, from 1996 - 2003 the highest rate of unemployment was 6.3% in June of 2003, and from 1985 to 1996 the highest rate of unemployment was 7.8% in June of 1992. What do all of these numbers mean? They are a point of reference - the unemloyement of the United States in 1933 was 37.6%. That means more than 1 out of every 4 able bodied citizens were out of work. The chart below provides the unemployement rates of the major
Industrial powers in 1933.
Global Unemployment Figures - 1933