Great Depression vs. Great Recession Infographic

During the 1930’s a great economic downfall struck the United States this period in time was named the Great Depression. The Great Depression had a massive impact on everyone's life during the 1930’s for example in 1933 the average rate of unemployment was at around 25%. Many decades later a similar event started forming during the late 2000’s. We now call this time the Great Recession. During the Great Recession the economy was slowly going down hill, but not at the rate of the Great Depression. Although the Great Recession did affect many people the change in the economy and other factors were not as drastic as those in the Great Depression. Both economic crises did experience many similar characteristics like a fast increase in unemployment. Despite some similar characteristics both economic crises were very different in terms of numbers.  During the first few years of the Great Depression the unemployment rates slowly rose as the economy was failing. At some point the unemployment rate during the Great Depression was at 25% versus the Great Recession which was at 8.63%, there is a significant difference between both numbers. A very surprising statistic that was presented was that of the number of bank failures of the Great Depression and of the Great Recession. Throughout 1930-1933 around 9,096 banks failed and in 2007-2009 only 57 banks failed, the obvious contrast in the numbers lets us understand how impactful the Great Depression was for the people.


Our info graphic

https://create.piktochart.com/output/26071536-depression-vs-recession

By: April B., Joshua C., Maryanne Q.