in 1929, a great depression hit the united states. the stock market crashed (lost much of its value). many banks ran out of money and closed. by 1932, over a quarter of the nation had no jobs, and much of the nation was poor or unemployed. many people were driven off farms, not only because of the depression, but also because of a storm known as the "dust bowl" and because farmers had not been doing well during the 1920s.