2.4.2 The Great Depression in Canada (1929-1939)
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A long period of recession is called a depression.
Sales of luxury goods decrease. Consumers spend less in restaurants, theatres, and resorts. Sales of
necessities also decline. People stop going to the dentist, for example.
The Great Depression in Canada signalled massive unemployment (27% in 1933). GDP dropped 40%. Alberta was hit especially hard by the collapse of wheat prices. Only after World War II was declared in 1939 did Canada begin to recover from the depression.
The Great Depression in Canada signalled massive unemployment (27% in 1933). GDP dropped 40%. Alberta was hit especially hard by the collapse of wheat prices. Only after World War II was declared in 1939 did Canada begin to recover from the depression.