Impact of the New Deals (T3) Flashcards
What was unemployment like in 1929?
3.2% - around 4 million
What was unemployment like in 1933?
The end of Hoover’s presidency - 18 million
What was unemployment like in 1939?
End of ND - 17.2% - 9 million
What was the national total of personal income in 1929?
$86bn
What was the national total of personal income in 1939?
$73dn - despite population increase of 9 million
What was the average wage in 1929?
$25.03 per week
What was the average wage in 1939?
$23.86 per week
During the Roosevelt recession, how many people lost their jobs?
3.5 million lost their jobs
What did the national income fall by during the Roosevelt recession?
National income fell by 13%
What did unemployment rise to during the Roosevelt recession?
Unemployment was rising to 19% in 1938
What % of the gains made in the new deal were lost from the recession?
It was said that 66% of the gains made in the New Deal were lost.
When was the Roosevelt recession?
1937-38
How severe was the Roosevelt recession?
Between 1937-38 the rate of economic decline was sharper than that of late 1929
Why did the Roosevelt recession happen?
Roosevelt wanted to keep a balanced budget
What was one of Roosevelt’s main priorities after he came to office?
To put controls on the banks so that such a large economic crash couldn’t happen again