How did the stock market crash affect families?

How did the stock market crash affect families?

In the years following the stock market crash, the average family income dropped 40%, and many families lost their entire savings.

How did the Great Depression affect Australia?

Australia suffered badly during the period of the Great Depression of the 1930s. As in other nations, Australia suffered years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal advancement.

How did families survive during the Great Depression?

Many families strived for self-sufficiency by keeping small kitchen gardens with vegetables and herbs. Some towns and cities allowed for the conversion of vacant lots to community “thrift gardens” where residents could grow food.

How did the Great Depression affect your family?

Effects on Family During the Great Depression families had to survive on little money and focus on the necessities of life. Wages went from $25 a week in a job for manufacturing in 1929 to $16 a week in 1933. Farmers were facing hard times even before the crash in 1929.

What was the long term effect of the Great Depression?

The long term effects of the Great Depression were felt beyond the borders of the United States, in rich and poor countries. Small farming and rural communities suffered exponential losses, bringing key industries to a halt, only serving to contribute to the further stagnation of the economy

How did people survive during the Great Depression?

During the Great Depression families had to survive on little money and focus on the necessities of life. Wages went from $25 a week in a job for manufacturing in 1929 to $16 a week in 1933. Bread cost seven cents a loaf, eggs were twenty-nine cents a dozen, and milk was ten cents a quart all in 1933.

How did the Great Depression affect the middle class?

Unable to make mortgage or rent payments, many were deprived of their homes or were evicted from their apartments. Both working-class and middle-class families were drastically affected by the Depression.