As soon as the stock market crashed, unemployment peaked and nearly 30% of the workforce became unemployed.
<h3>What happened when the stock market crashed in 1929?</h3>
The collapse of the stock market in October 1929 brought the economic boom of the 1920s to a symbolic end.
The Great Recession was a global economic meltdown that marked the rise in unemployment in the United States, nearly halted production and industrialization, and an 89 percent decline in stock prices.
Thus, the statement that is true is as soon as the stock market crashed, unemployment peaked and nearly 30% of the workforce became unemployed.
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