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This enormous financial crisis had a momentous impact on employment in the U. Factories, plants, stores were shut down around the country from California to New York, a lot of workers lost their jobs and ability to live.
The companies lost their capital, savings which allowed them to do business in the country, in fact, it started their bankruptcy, the industrial collapse.
The companies didn’t have any money to save the workforce and had to fire workers, reduce wages, all other costs.
The beginning of the Depression was caused by the empowering of government involvement in the economy of the country and in the life of society. Depression made people forget about the wealth, growth and prosperity of last decade and face new and economically unfair conditions of doing business and living circumstances.
It is obvious that the Great Depression influenced different countries in different ways, in a different time and rates of severity.
During Depression money of the investors which were in the market for the investments was lost in one moment which caused huge financial losses of clients, the banks were forced to close down.
They depended on stock markets deeply that’s why it caused such a big panic and extreme withdrawal of their money.The unemployment rate rose to 25% in the USA at it was the highest rate during the time of Depression. It means that a quarter of all population didn’t have any means of subsistence even though plants and factories were doing their best to save their workforce.Losing a job was leading to the inability to buy food and provide other basic needs, unemployed people could not live like this for a long time.If you are a school, college or university student, you will have to submit a lot of writing assignments. It seems creative task and not hard to complete but it has some peculiarities and requirements.Here we will give you a good example of the Great Depression essay which took place in the United States.At one moment they were not capable to pay the debts, some of them had loans, the issues that occurred in the economy made them go bankrupt.As a result, they lost their lost business, all means of subsistence on a large scale. The unemployment rate was rising unquestionably in big industrialized cities, in those areas where people were working in one particular industry.All industries and companies were affected by the crisis.It is the reason for their mutual work, cooperation with the stock market, they depended on stocks.Great Depression became a worldwide business slump of the 20th century.It is one of the worst and longest years of low business activity in the USA.