Great Depression

photograph of

Destitute pea pickers in California. Mother of seven children. Age thirty-two. Nipomo, California. Accessed September 4, 2014, from Credit: Library of Congress, Prints and Photographs Division, FSA/OWI Collection.

The Great Depression describes the long period of economic downturn that took place after the stock market crash of 1929. This period led to high unemployment rates, lowered stock values, and reduced levels of demand for production materials.

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102