Changes in the standard of living

• Unemployment fell from 2 million in 1926, to 1.3 million in 1928
• The length of the working week fell from 50 hours to 46 hours
• Real wages rose by 25% from 1925-1928
• In 1923, there was a shortage of one million homes in Germany. In 1925, a 15% rent tax was introduced to fund building associations. From 1925 to 1929, private companies built 37,000 new homes, while the new building association built 64,000 homes. The housing shortage continued but it had eased
• The Unemployment Insurance Act of 1927 charged workers 3% of their wages and in return provided an average of 60 marks per week in unemployment and sickness benefits if they fell out of work
• Under the 1920 Reich Pension Law pensions were paid to: 750,000 war veterans and 400,000 war widows
• By 1928 the number of students in higher education had increased to 110,000 (pre-WW1: 70,000)
• But the loss of savings during 1923 hyperinflation was still felt, and employment remained insecure