About one million people in over 700 towns and villages - seriously, this protest went through the entire strata of society - participated in the action with work stoppages and demonstrations. Over 100,000 protestors had gathered alone in East Berlin.

Orginally, the action had been focused on an increase in work norms by 10% (effectively 10% more work for the same money) in the construction field, but these demands became more political. SED functionaries went out into the street to attempt to diffuse the situation without success and the workers demanded the dissolution of the East German government. Local councils were broken up, political prisoners were released too.
The government in turn went to the Soviet Union for miltary support.
Around 16 Soviet divisions with 20,000 soldiers as well as Kasernierte Vokspolizei were engaged.
Major stand-offs occured along Unter den Linden where troops opened fire on protestors and several people were shot dead around Potsdamer Platz. It still isn't clear how many died during the uprising and by the death sentences which followed. The number of known victims is 55, other estimates are higher.
West Germany established 17 June as a national holiday, called "Day of German Unity" in memory of the 1953 East German rebellion, which after the German reunification in October 1990 was moved to 3 October, the date of formal reunification. Charlottenburger Chaussee in Berlin was also renamed Straße des 17. Juni (English: "17th June Street").
The event was also captured in Berholt Brecht's piece *Die Lösung":
QUOTE
Die Lösung
Nach dem Aufstand des 17. Juni
Ließ der Sekretär des Schriftstellerverbands
In der Stalinallee Flugblätter verteilen
Auf denen zu lesen war, daß das Volk
Das Vertrauen der Regierung verscherzt habe
Und es nur durch verdoppelte Arbeit
zurückerobern könne. Wäre es da
Nicht doch einfacher, die Regierung
Löste das Volk auf und
Wählte ein anderes?
Nach dem Aufstand des 17. Juni
Ließ der Sekretär des Schriftstellerverbands
In der Stalinallee Flugblätter verteilen
Auf denen zu lesen war, daß das Volk
Das Vertrauen der Regierung verscherzt habe
Und es nur durch verdoppelte Arbeit
zurückerobern könne. Wäre es da
Nicht doch einfacher, die Regierung
Löste das Volk auf und
Wählte ein anderes?
The Solution
After the uprising of the 17th June
The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee
Stating that the people
Had forfeited the confidence of the government
And could win it back only
By redoubled efforts. Would it not be easier
In that case for the government
To dissolve the people
And elect another?
So why has such a large event become forgotten?
According to Markus Meckel, head of the Bundesstiftung zur Aufarbeitung der SED-Diktatur, schools often do not teach about the GDR which means that young people take their picture of that time from films such as "Sonnenallee" or "Goodbye Lenin" and think that the GDR was funny, cute and only slightly backward. That "Das Leben der Anderen" was a much more accurate picture of the involvement of the SED in daily life doesn't appear to reach young people.
Which might explain quite a bit of Ostalgie?
ZDF Mediathek: Interview with Markus Meckel
Wikipedia: 17. Juni 1953, Wikipedia: 17th June 1953
