The Great Depression was a very difficult time in American history when many businesses closed and people lost their jobs.
In 1929, the stock market crashed, causing widespread job loss across the nation.
- The Start: The President when the Great Depression began was Herbert Hoover. Many people lost their jobs and homes.
- The Camps: Homeless people built makeshift towns out of scrap wood and boxes. Because they blamed President Hoover for not doing enough to help, these poor communities were called Hoovervilles.
- The Missing Count: Counting people without jobs was hard. Back then, unemployment rates did not account for married women who lost their jobs.
- The New President: In 1932, the American people elected Franklin D. Roosevelt as the new President.
- Fixing the Problem: Roosevelt and Congress created a series of programs called the New Deal to help America recover.
The New Deal created many new government agencies. Here are a few examples:
- Social Security Board: This created a system to provide income and support for retired or disabled Americans.
- Civilian Conservation Corps (CCC): This gave young men jobs planting trees and building parks.
- Federal Deposit Insurance Corporation (FDIC): This insured people’s bank accounts so that if a bank closed, people wouldn’t lose their savings.