Overview

The Great Depression was the longest economic downfall in the Western industrialized world. It started after the stock market crash on October 1929. This wiped out most of the investors. Everything was going downhill including industrial output and the level of unemployment decreased. The depression reached its worst point in 1933. During that time, 13-15 million Americans were unemployed. Along with that, about half of the banks failed. By 1933, one-fourth of all farmers lost their land. President D. Roosevelt was president through this tough time. The depression finally ended during WWII when the industry was at a high demand.