Gross Domestic Product recovered much more quickly than labor markets did during the 1930s. We provide new analysis of this issue by estimating a cross-sectional model for individuals in 1939–1940 as a function of the measures of the Great Contraction of 1929–1933, the recovery, and the Second Dip Recession and average information for three types of New Deal spending. The results show that the Great Contraction of 1929–1933 and the Second-Dip Recession still had powerful negative effects on county labor markets in 1939/1940 and these were only partially offset by public works grants. Relief grants had somewhat negative effects although this might have arisen because of a large layoff of workers by the WPA in 1939. The AAA payments to farmers to take land out of production were associated with lower earnings and private employment, but had mixed effects on skill mobility.

国内生产总值的恢复速度比1930年代的劳动力市场要快得多。我们通过估算1939-1940年间个人的横截面模型来对这一问题进行新的分析，该模型是根据1929-1933年大收缩，复苏和第二次衰退的措施以及三种类型的平均信息得出的。新政支出。结果表明，1929–1933年的大收缩和第二次衰退对1939/1940年的县劳动力市场仍然具有强大的负面影响，而公共工程补助金仅部分抵消了这些负面影响。救济赠款在某种程度上产生了负面影响，尽管这可能是由于1939年WPA裁员造成的。AAA给农民的AAA付款使他们从生产中剥夺土地与较低的收入和私人就业相关，