How Did The Great Depression Affect Canada

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The great depression was the world’s largest economic downfall, leaving many canadians susceptible to poverty and unemployment. On October 29th, 1929 was the day when traders sold 12.9 million shares in stocks. Over the next few weeks Stocks fell over 20%. The stock market falling happened because of overproduction, expansion, dependence on primary products, high tariffs, burrowing credit and Canada’s dependence on the United states. During the great depression Canada was suffering low employment rate and wages.great depression lasted roughly until 1939 close to WW2.

When the great depression hit Canada was suffering extremely low employment rates and wages. The unemployment rate went from 3% and skyrocketed up to 25%, But the fortunate citizens that didn’t lose their jobs had their wages drop by 42%. Unluckily enough the debt of the roaring 20’s dragged most into pauperism. Majority of canadians spent the 30’s just trying to survive. My husband left us here in the shanty. He left a note explaining how he couldn't stand the humiliation of not being able to provide for us.1 The GDP (Gross Domestic Product) fell more than 25%, this was the largest economic decline. …show more content…

Canada’s unemployment rate is currently at 7% and an average full time employee can earn $26.91 an hour. Compared to the great depression with an unemployment rate of 15-25%, this can definitely show how Canadians were suffering with poverty. With honest efforts from Roosevelt and Richard bennett to create the New deal, many Canadians were grateful for the relief act. The support from the government ensured that most canadians had food on the table and a roof over their

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