during the us great depression the unemployment rate peaked at
25%
title: Great Depression text: extremes; half the unemployed had been out of work for over six months, something that was not repeated until the late-2000s recession. 2007 and 2008 eventually saw the world reach new levels of wealth gap inequality that rivalled the years of 1928 and 1929. General: Great Depression The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the title: Unemployment in the United States text: as high as 25% during the Great Depression. More recently, it reached peaks of 10.8% in November 1982 and 10.0% in October 2009. Unemployment tends to rise during recessions and fall during expansions. From 1948 to 2015, unemployment averaged about 5.8%. There is always some unemployment, with persons changing jobs and new entrants to the labor force searching for jobs. This is referred to as frictional unemployment. For this reason, the Federal Reserve targets the natural rate of unemployment or NAIRU, which was around 5% in 2015. A rate of unemployment below this level would be consistent with rising inflation title: Great Depression in the United States text: to its highest point since the summer of 1929 when the depression began. By the end of 1941, before American entry into the war, defense spending and military mobilization had started one of the greatest booms in American history thus ending the last traces of unemployment. Effects of depression in the U.S.: General: Great Depression in the United States The Great Depression began in August 1929, when the United States economy first went into an economic recession. Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects title: Great Depression text: Great Depression The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how intensely the world's economy can decline. The Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, and title: Great Depression text: than 50%. Unemployment in the U.S. rose to 25% and in some countries rose as high as 33%. Cities around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming communities and rural areas suffered as crop prices fell by about 60%. Facing plummeting demand with few alternative sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most. Economic historians usually attribute the start of the Great Depression to the sudden devastating collapse of U.S. stock market prices on October 29, 1929, known as