The Great Depression

1. It is considered the start of the Great Depression because it is the day the stock market crashed.

2. Value of stocks fell almost 73% between the years of 1929-1933.

3. During the 1930's, almost 9000 banks closed. Some only closed temporarily, yet all together the number of banks dropped to one fifth of what it was.

4. Nobody could find a job during the great depression. Some people were laid off, and there was no job openings everywhere. This put people in an depressing state because there was nothing they could do, hence the Great Depression.

5. Recession follows depression in the economic cycle.