By: Andy Jiang

Economy in the 1920s-1930s  By 1933, 11,000 of the United State’s 25,000 banks had failed.  Failure of the economy resulted in severe unemployment  By 1933, unemployment went from 8 million to 15 million. sion/photoessay.htm

What was the Great Depression? Began after the stock market crash in New York Affected almost every country in the world Caused unemployment, declines, and deflation Caused large numbers of unemployment Factories shut down, banks failed, and businesses closed. sion/photoessay.htm

Franklin D. Roosevelt’s presidency The downfall of the economy resulted in the election of Franklin D. Roosevelt. Franklin Roosevelt won in an election against Herbert Hoover with 22.8 million votes to 15.7 million votes. He then made a speech about the New Deal. roosevelt/photo10#franklin-d-roosevelt

The New Deal  The New Deal was a series of economic programs established by President Franklin Roosevelt.  Is aimed to help the United States recover from depression  The New Deal consists of two phases.

The New Deal: Phase One The first phase of the New Deal concerns the recovery of agricultural regulation and price stability. Congress established programs such as the Federal Deposit Insurance Company (FDIC) and the Agricultural Adjustment Administration (AAA). These programs are to help restore people’s money and raise the production of farm crops.

The New Deal: Phase Two  The second phase of the New Deal deals with the number of unemployment.  Congress established programs such as the Civilian Conservation Corps and the Civil Works Administration. These programs provided jobs for the unemployed.  These programs provided millions and millions of jobs.

The Federal Deposit Insurance Company  The FDIC protects people’s deposits in banks  Has been protecting people’s money since the Great Depression  FDIC Chairman Sheila C. Bair states that not a single penny has been lost since the Great Depression.  They hold meetings in various cities such as San Francisco and Chicago to ensure their quality of work.

Unemployment in the Current Century Unemployment nowadays is not as severe as it was 80 years ago Colleges can help people get jobs Unemployment rate is about 9% in the United States. educated-likely-find-jobs-2010.aspx

Facts  World War II had helped provide jobs for the unemployed.  The Golden Gate Bridge and the Empire State Building were being created during this time. This had also provided jobs.  In 1933, 37.6% of industrial workers were unemployed.  Some villages that people live in were called “Hoovertowns”, as a sign of anger from the residents.