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by velvet_thunderr
255 days ago
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Yes you’re right that real GDP fell by about 26–30% from its peak during the Great Depression which is slightly less than “nearly half.” As for the unemployment part, national averages never reached 50% but some local communities like industrial cities saw much higher unemployment rates. For example Cleveland hit around 50% and Toledo (Ohio) reached as high as 80% during the early 1930s. So the “up to 50%” talks about the extreme hardship in certain regions rather than the U.S. as a whole. https://en.wikipedia.org/wiki/Great_Depression_in_the_United... |
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