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The Great Depression had devastating economic and social effects on American society.Millions of people lost their jobs as businesses failed and industrial production declined sharply.The collapse of banks wiped out savings, leading to widespread financial insecurity.
The Great Depression had devastating economic and social effects on American society. Millions of people lost their jobs as businesses failed and industrial production declined sharply. Unemployment reached over 25%, and many families were forced to live in poverty or migrate in search of work. The collapse of banks wiped out savings, leading to widespread financial insecurity. Socially, the Depression caused a loss of trust in the government and financial institutions, which eventually led to major reforms such as the New Deal. It also increased the role of the federal government in providing economic relief and protecting workers' rights.
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