<Table> <Tr> <Td> </Td> <Td> This article appears to contradict the article Franklin D. Roosevelt . Please see discussion on the linked talk page . (October 2017) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article appears to contradict the article Franklin D. Roosevelt . Please see discussion on the linked talk page . (October 2017) (Learn how and when to remove this template message) </Td> </Tr> <P> The Great Depression began in August 1929, when the United States economy first went into an economic recession . Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects of a declining economy were felt, and a major worldwide economic downturn ensued . The market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth and personal advancement . Although its causes are still uncertain and controversial, the net effect was a sudden and general loss of confidence in the economic future . </P> <P> The usual explanations include numerous factors, especially high consumer debt, ill - regulated markets that permitted overoptimistic loans by banks and investors, and the lack of high - growth new industries, all interacting to create a downward economic spiral of reduced spending, falling confidence and lowered production . </P>

What effect did the great depression have on the unemployment rate