The Great Depression: Availability Of Work And It' Features
The Great Depression was taken place from the late 1920s and went till the late 1930s. This had lasted for almost 10 years. The Great Depression affected close to every country in the world. There had been a large amount of unemployment, banking panics and there had been large increases in poverty and many homeless people everywhere. The effects of this time were most troubling between 1929 to 1933. The industrial production had fallen close to about 47%. The gross domestic product, also known as GDP, had fallen by about 30 percent. The unemployment had been increased and reached more than 20%. There has been said that the main cause of the great depression was not reduced to one main reason as there had been many contributing factors
Some high contributing factors to the Great Depression are, the stock market crashing, banking panics, gold standards and decreased international lending. The stock market had gone through a hard time during the 1920s in the effect of the market crashing all around. The prices had risen up to very high unexplainable levels in which resulted in easy ways for companies to make money. Many people had also started to use their disposable income alongside their mortgaged their homes in willingness to buy stock. After a long decade, thousands of people had many financed loans in need of being paid off. These loans were only able to be paid off over time for most people. Once it had been noticed that the loans were going to be an issue to be paid off by millions by October 1929. Millions went into a panic and had then started to convert many of the holdings they had obtained. Between the time of September to October, many of the stock prices had then fallen by 33%. From the result of this fall, consumers and many business owners had lost large amounts of confidence in the economy. After this many jobs had been lost which had affected the investments being made.
1930 to 1932 many banks had fallen into a panic leaving the united states with many banks costumers scared and having the customers wanting to withdraw their money from the banks. This panic had been what many people were wanting to protect themselves from. Many health banks were able to be affected by this panic. By the time of 1933 20%, one fifth, of the banks had collapsed. This had resulted in the lead to Roosevelt’s four day bank holiday. In time ha gotten 3 days added onto the four days. The banks that had failed were than needed to prove themselves to the government inspectors in hope to be able to reopen. Because of this panic, business investment was needed to be lowered due to the fact that the banks were not able to support all the customers in need. They did not have enough money to loan to everyone. There was not much money was able to be lent out because many people were holding the cash in fear of this happening again which then resulted in less cash for the banks to hand out. Many people had believed that the federal reserve had a large amount to do with this time. As the interest rate had been raised by a lot and the money supply had been decreased too many. This was in hope of retaining the gold standard. The money reduction had than resulted in prices lowering. Thus then the efforts of lending had been frowned upon.
The gold standard had been known as the main cause for the spread of the great depression to other countries. Americans had then started to lower the amount of imported good they were purchasing. These differences rose the significant foreign outcomes for gold. The united states had then started to threaten other countries for the gold reserves. Banks had than raised their interest rates in hope to balance in the imbalance that was happening. Unemployment and prices lowering had than taken place in other countries due to this. The international economics had gotten worse in many other countries just to say as bad as the united state, but especially in Europe.
The late 1920s had consisted of lending took place often. But this had then started to fail. Due to the very high interest rates. This drop had than lasted in many effects in borrower countries. Particularly in the countries in which there had been a downturn even before the great depression in the united states. There was a lot of overpopulation and competition from many countries in America, this had then left the American agriculture struggling. The Congress had over time eventually taken over the broad legislation, the Smoot-Hawley Tariff Act. This had led to the force of steep tariffs on a large range worldwide. This legislation had supported any acts of revenge to settle many different issues.
Many people saw the employment of female and make was the main factor of unemployment during the Great Depression. They had believed to fire the women who were not needed to work and give those jobs back to the men to for say ‘solve’ the unemployment issue. People were not taking into the fact about the gender roles that went along with many jobs. Men would not take a chance on applying and working a job that was ‘made for women to work’. It was hard on many men when they were not able to provide for their families and it had been the women providing all. This had been more common in the 1930s than any other time. Employment for women had greatly increased. This was because of large parts of work where greatly hit by the economic depression. Many of these jobs were defined as a women’s job and were not hit as much as the other jobs. Therefore leaving these areas less affected than others.
Many men did not want to take the jobs of women’s work because they were not willing to risk the image of their masculinity rather than working. Even though the women’s work had been increased, the African American women were being filled with the white women to do the jobs leaving them with no work. An estimation had been made on the black unemployment. It had been said that the United State had reached 50% in 1932. Instead of there being labels on each job style many preachers in this time said that work to be for everyone.
With the men not being willing to take on a women jobs, this has left the respect of the father of the family to be left and then headed onto the mother. As she would most likely have a job to support a family. With the men not working this had opened up more for the women. The images of women than increased, people began to think that the males were given the female’s more power over them.