THE ROARING 20'S
The 1920's was the "era of good feelings" because everyone seemed to prosper due to the soaring economy. New inventions, such as cars, provided new jobs, which caused the unemployment rate to drop to a mere 2%. There was such a surplus of jobs that it seemed to some people that there were more jobs than workers. In each year there was more business growth, higher wages, and increased stock market trading. This,
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showed last 75 words of 1242 total
it open. At the end of the day, the loss in stocks was twice the value of all the currency circulating in the United States.
After the crash many banks went bankrupt, unemployment rose from 700,000 to 3 million, AT&T went from $304 to $197.50 a share, General Motors went from $72.75 to $36 a share, and all of America's economic instabilities came to light.
The country's mood and culture had now changed as America entered the Great Depression.