Effects Of Ww1 On Canadian Economy

Economy. According to the Oxford Dictionary, it is “The state of a country or region in terms of the production and consumption of the goods and services and the supply of money.” World War Ⅱ was a devastating time for everyone in the early 1900's. Pain and loss was a common occurrence, and people were struggling. This war affected multiple countries and colonies around the world, socially, politically, and economically. After World War Ⅰ and World War 2, the aftereffects caused a downfall in the Canadian economy. Money, mainly wages and workplace safety, were one of the factors which brought strength to labour unions. Their increase in power made many employers restless. Unemployment around the country had also increased. War factories were

Jobs were lost, and they were even harder to get as time progressed. With the return of veterans from the war, unemployment in Canada increased exponentially. Over 1 million Canadians were unemployed. 1 of every 4 workers were laid off, with over 12% of the working class was unemployed after the war. . The First World War was a large factor in this decline because of many things. Firstly, it was the spike of jobs that occured when the war started, with a large increase of wartime jobs. These positions were filled by women and men that had not volunteered to serve overseas. Other non-wartime jobs were also filled. This meant that after the war ended, all employees of places such as munitions factories would become unemployed. With returning veterans also looking for a job, the number of jobless people increased drastically. Especially during the Great Depression, many Canadian men and women had become unemployed because of this. It had changed the economy because less was needed so less was made. This would slowly, but surely, force people out of their jobs. This had affected the ever-increasing amount of unemployed during the Great Depression greatly. Following the fall of the economy, many consumers were unable to buy, or consume because they were unemployed, which resulted in a drop in production. In the employer's eyes, if the product is not wanted, you will not need the personal required to create the

During this time, Canadian stocks had lost over half their market value and in Toronto, over 330,000 stocks were exchanged, which is over 13 times the average stock exchange. Billions of dollars were lost, and shareholders in the International Nickel and Imperial Oil had lost over $500 million each because of the crash. Although this may have started in the United States, it had affected Canada more because the economic activity of Canada had decreased by 40% within the United States. This crash would slowly snowball from a large recession into an economic depression. Businesses had gone bankrupt, and people could only do so much to get by. This had a huge factor in Canada’s changing economy because Canadian stock had dropped in value, causing people to go into debt because the stock they bought were not worth it in the long run. This had detrimental effects on the Prairie provinces, because wheat(a large Canadian export) prices had collapsed, and many farmers unable to make ends meet, forto move into towns and cities. This crash had caused many to become unemployed because companies and independent workers were unable to recover from the crash. It had also decreased the production and consumption of goods throughout Canada, which originally developed because of the large economic