If people weren't earning money they were hesitant to buy things. If people weren't buying things then their money wasn't stimulating the economy by giving other people money.
One of the worst signs of economic depression is high unemployment. Unemployment drives many of the other symptoms of depression (such as increased debt, mortgage foreclosures and unwillingness to spend on luxury items).
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .
Some common features of an economic depression include high levels of unemployment and high levels of foreclosures. The high levels of unemployment are indirectly responsible for many of the foreclosures. Another factor in foreclosures is the expiration of first-time buyer tax credits.
Unemployment was much higher in the Depression. Also, the '30s lacked most of the safeguards we take for granted today, including unemployment compensation and deposit insurance.
Unemployment rates were high because it was the Great Depression. There was a huge economic downfall through out the whole world. Also the weather (in America) had taken a turn for the worse destroying agriculture which in turn made grown food too expensive to plant which caused farmers to lose both their jobs and their land.
economic depression
One of the worst signs of economic depression is high unemployment. Unemployment drives many of the other symptoms of depression (such as increased debt, mortgage foreclosures and unwillingness to spend on luxury items).
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .
economic policy
America
the rise of unemployment was because of the great depression because the owners didn't need workers when the stock market crashed.
a period during the 1930s when there was a worldwide economic collapse and mass unemployment.
Financial depression is a severe and prolonged economic downturn characterized by high levels of unemployment, reduced consumer spending, and overall economic hardship.
Depression.
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .
October 29, 1929 The Great Depression began it meant the decline in work and high unemployment at the time
the great depression