The Great Depression began with the collapse of the stock market in 1929. Over the next few years, stock prices continued to fall, ruining individual investors and straining banks. By 1933, over 11,000 of the 25,000 US banks had failed. As companies laid off workers, unemployment rose rapidly and many families lost their homes or could not afford food. President Hoover was unable to improve the economy, but President Roosevelt implemented new policies that helped end the Depression. The US economy rebounded during World War II as production increased to meet war demands.