unemployment - the impact

• • 1933, 6 million unemployed
• • unemployed: governments were unable to pay unemployment benefits as more people got out of work; taxes were raised & benefits were cut
• • savers: savings invested in shares had their values crashed so if they became unemployed they had no savings to rely on
• • workers: taxes went up; many were desperate for work so employers cut wages
• • homeless: many people couldn’t afford rent & many shanty towns began to spring up & many looked around for work or food