Final answer:
Until 1935, unemployment was a critical concern, peaking during the Great Depression with a 25% jobless rate. It deeply affected personal well-being and the broader economy, causing substantial hardship.
Step-by-step explanation:
Until 1935, unemployment was regarded as a significant social and economic issue, especially during the Great Depression. The unemployment rate drastically increased, affecting lives and contributing to widespread poverty. In 1933, the Bureau of Labor Statistics estimated that 1 out of every 4, or 25% of the American workforce, was jobless. This period saw the creation of "Hoovervilles" and substantial economic hardship for many Americans.
It is important to note that unemployment is more than a statistic; it represents individuals' well-being and challenges to maintaining a livelihood. While there will likely never be zero unemployment, economists generally consider a rate of 5% or lower as low (good), indicating a healthy economy with most people in the workforce being employed.