Other problems develop such as workers being killed from construction, strikes from workers, and the
For example, if a company like apple has a very low point in their stock then they will stop producing more products. That may not sound too bad but if they stop producing products then the government will not be able to collect tax, which could lead to the halt of cities and social
The Historical Statistics of the United States (Document 4) informs us that rates drastically rose from 5.3 to 14.2% of Americans losing their jobs. This happened because so many people lost their money. Businessmen were no longer able to pay all of their employees full time and had to lay off workers that needed this money to feed their families. After losing everything many people completely lost
When the citizens lost all their savings and money that they placed in the stock market, they were unable to refund/pay back the investment they took for their credit cards. With that situation, some people were unemployed and were not able to make any income and ended up leading to certain circumstances if they did not refund. Many families went homeless and even men left their families because they could not provide them with their needs. In addition, women jobs were taken away to give
”(Holley).Many workers lost their jobs. The stock market also crashed so that made it worse.
People would get injured and be so worried about losing their job they would continue to push themselves to be able to support themselves and their families causing their injury to only increase. For example, Jurgis had an accident and work and sprained his ankle. It wasn’t too bad at first, so he continued to work but at the end of the day it was dramatically worse and he was unable to work. This resulted in him being unable to work for several months causing his family to experience even harsher poverty. This resulted in Jurgis alcoholism, which happened to many others as
On the other hand, America has its disadvantages because the image of a person or company is considered more valuable than someone’s
Finally it can cause families to break apart as well because no one is able to put food on the table for their families but the people working and if they aren’t working, they aren’t able to feed the family. Although this issue is one of the cause of the Industrial Revolution to fail, another reason is that there is one person able to play
There is a general net impact of a decrease in social capital. At the point when individuals lose confide in the establishments, their profitability decays, which harms financial and social
Labored workers lost their jobs rapidly and in abundance. People were losing jobs fast, leaving families without hope. Although not all labored workers were laid off. There was just no need for so many labored workers anymore.
This took a toll on the economy as well, because without a job how were these families supposed to live? Without income they were unable to pay for anything like shelter, food, and clothes. A negative result that affected the economy was bulk or mass production. Since these machines and technology had a high rate of production, products were made
After crash of the New York Stock Exchange, the lives of American citizens began to change rapidly. Factories and businesses began firing employees at extremely high rates, as they could no longer afford their employees. In fact, about 25% of the nation’s able-bodied people were unemployed. In addition, banks began to permanently close their doors.
Its effects were felt across the country, and many individuals and families found themselves struggling to make ends meet. Unemployment rose to unprecedented levels, and poverty became widespread. Many
The inability to pay their workers caused a lot of people to lose their jobs. This led to a big problem because many people
