How many people were unemployed during the Great Depression?

As an expert in economic history, I can provide a comprehensive overview of the unemployment situation during the Great Depression. The Great Depression, which spanned from 1929 to the late 1930s, was the most severe and prolonged economic downturn in the history of the Western industrialized world. It began with the stock market crash on October 29, 1929, famously known as Black Tuesday, and led to a decade-long period of high unemployment, poverty, and a significant decline in industrial and agricultural production.
Unemployment rates during the Great Depression varied over time and across different sources, but it is widely agreed that these rates were unprecedentedly high. According to the U.S. Bureau of Labor Statistics, the unemployment rate in the United States reached a first peak of about 24.9% in 1931 and then a second, higher peak of 25.2% in 1933. However, some contemporary estimates, such as those reported by the _财富_ (Fortune) magazine, suggested that the unemployment rate could have been as high as 28%, translating to approximately 12 million to 15 million unemployed individuals out of a labor force of about 48 million at the time [3].
The impact of the Great Depression was not limited to the United States; it had a global reach, affecting many countries around the world. In the U.S., the depression led to widespread poverty and a significant reduction in the standard of living for many Americans. The crisis also exacerbated social problems, including homelessness and malnutrition. It is estimated that by 1933, nearly half of the country's banks had failed, exacerbating the economic situation [1].
The Great Depression had a profound effect on the social fabric of the United States. The high unemployment rates led to a loss of income for millions of families, forcing many into poverty. The government's response to the crisis was initially limited, but as the depression wore on, it began to implement a series of programs and policies aimed at providing relief and stimulating economic recovery. The most notable of these was the New Deal, a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in 1933 in response to the Great Depression [4].
The New Deal sought to provide immediate relief to the unemployed and impoverished, as well as to reform the financial system and put in place measures to prevent future depressions. It included initiatives such as the Civilian Conservation Corps (CCC), which provided jobs for young men in forestry and conservation projects, and the Works Progress Administration (WPA), which funded public works projects like the construction of roads and public buildings [8].
Despite these efforts, the Great Depression was not fully resolved until the onset of World War II, which stimulated the economy through increased military spending and production. By the end of the 1930s, the U.S. economy had begun to recover, with the unemployment rate dropping to 14.6% in 1940 [5].
In summary, the Great Depression was a period of severe economic hardship marked by extremely high unemployment rates. The number of unemployed individuals in the United States reached a peak of around 15 million by 1933, with the unemployment rate hitting a high of approximately 25%. The depression had widespread social and economic consequences and took a significant toll on the lives of millions of Americans. It was only through a combination of government intervention, economic reform, and the demands of war that the United States was able to emerge from the Great Depression.

By 1933, when the Great Depression reached its lowest point, some 15 million Americans were unemployed and nearly half the country's banks had failed.