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Unformatted text preview: unemployment rate continued to get higher. This excess supply of labor had nowhere to turn for help. The severe events of the Great Depression illustrate the relationship between the health of U.S. markets and labor stability. The ruin of the major financial institutions led to distrust on the part of the American people for those institutions that remained. Investments by businesses and individuals alike were lost in the stock market crash and ensuing events. Since the manufacturing industry was one of the largest employers in the U.S., as it crumbled, so did the lives of the blue collar workers. These low to moderate skill level jobs were no longer available, resulting in record unemployment numbers. References: Smiley, G. (2008). Great Depression. Retrieved October 15, 2010. From: Library of Economics Liberty. http://www.econlib.org/library/Enc/GreatDepression.html...
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This note was uploaded on 10/17/2010 for the course SCIENCE 225 taught by Professor Austin during the Spring '10 term at École Normale Supérieure.
- Spring '10