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Businesses failed as stocks continued to plummet in the early 1930s, and unemployment skyrocketed. By 1932, one out of every four workers had lost their jobs. Banks failed, and many Americans lost their life savings, leaving them bankrupt. Thousands of Americans lost their homes due to a lack of employment and funds. During the 1920s, most farmers struggled to make ends meet due to low crop prices. Following the stock market crisis, businesses began to close or lay off employees. Many farmers were unable to purchase the seeds required to grow their crops due to a lack of funds. Even if the farmers had the financial means to purchase seeds, the land was too dry for most crops to thrive.