Did you know that the Great Depression, one of the most severe economic downturns in history, began with the stock market crash of 1929? This event led to widespread unemployment, bank failures, and a decade-long period of economic hardship in the United States and other countries around the world. During the Great Depression, the unemployment rate in the US soared to over 25%, leaving millions of people without work. This caused a sharp decline in consumer spending, leading to even more layoffs and business closures. In response to the crisis, President Franklin D. Roosevelt implemented a series of New Deal programs aimed at providing relief, recovery, and reform. These initiatives included government-funded job creation projects, social welfare programs, and new regulations for the banking and financial industries. Despite these efforts, the Great Depression continued until the US entered World War II in 1941, which sparked a massive increase in government spending and industrial production. This economic boom helped to pull the country out of the depression and set the stage for a period of sustained economic growth in the post-war years. The lessons learned from the Great Depression continue to shape economic policy and financial regulation today, serving as a reminder of the importance of proactive government intervention during times of economic crisis.