100,000 businesses went bankrupt.
Industrial production fell by almost 40%.
Banks tried to recover money by recalling loans they had given to businesses.
Many businessmen changed to new jobs, such as selling newspapers. Some even committed suicide.
The cost of transporting animals to market was higher than the price of the animals themselves.
Huge numbers of farmers were unable to pay their mortgages.
Many farmershad to pack their belongings and live on the road, working where they could.
Over-farming and drought turned millions of acres of farmland into a dust bowl.
Businesses cut wages and made workers unemployed.
Average wages for workers fell by 60%.
By 1933 14 million workers were unemployed.
Towns suffered badly, for example in Cleveland 50% of workers did not have a job!
Workers in cities queued for bread and soup dishes handed out by charities.
Every town had a shanty town called a 'Hooverville' after he President, Herbert Hoover.
Rubbish tips were full of people hoping to find leftover food.
In New York, 238 people in 1931 were admitted to hospital with malnutrition. 45 died
Very rich investeros lost all their money. Many were unable to pay back their loans and therefore went bankrupt.
