Recovery to pre-crash employment levels arrived only in the first year of WWII (about 12 years after the crash) and was not a private recovery but one driven largely by government defense contracting, with agencies like the WPA re-tasked toward war preparedness.

factualpending

Speaker

Eric Rauchway

Evidence Quote

you have recovery to pre-crash employment levels in the first year of the war, but it's not what you would call a private recovery.

Source

Eric Rauchway on the Great Depression and the New Deal 12/01/2008EconTalk
Created: 6/17/2026, 10:09:28 AM

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