The Great Depression
The Great Depression
The Great Depression had a major effect on most American family’s during that time and some long after. Due to the Great Depression many family’s lost there jobs and soon after there homes. Family’s were forced to move westward to try and find work. Family’s that still had jobs could not survive much longer because wages were cut. Banks went out of business, and family’s that had money in banks lost it all.
When the stock market crashed millions of people were out of jobs and it put them on the streets looking for jobs in other industries that were already over employed. Family’s that were employed in the stock market were so used to living a higher class life with expensive houses and expensive possessions that when the stock market crashed they were so depending on there valuables that they could not live without them. These family’s ended up on the streets and most of them died due to starvation.
Family’s with jobs in other industries like factories first suffered from pay cuts. Since millions of people were out of jobs due to the stock market crash that meant less people spending money and less people buying products from other manufactures. Since manufactures were selling less then they do not need to produce as much of there products, therefore they do not need as many