Let’s hope this is not on our horizons…
The Great Depression 1929-32 was a time of extreme hardship for people in Australia. Even before the devastating stock market crash on Wall Street the centre of stock market trading in New York, United States of America, unemployment in Australia was already at ten per cent. The Wall Street crash in October 1929 signalled the beginning of a severe depression for the whole industrialised world.
After the crash unemployment in Australia more than doubled to twenty-one per cent in mid-1930, and reached its peak in mid-1932 when almost thirty-two per cent of Australians were out of work.
