Question

the state of wanting

\1930 will be a splendid employment year.\

• u.s dept. of labor, new year’s forecast, december 1929

based on the video, how do we know the prediction above about employment was incorrect? (hint: how was employment affected by the great depression?)

Explanation:

The Great Depression (starting with the 1929 stock market crash) led to massive economic downturn. Businesses failed, banks collapsed, and unemployment soared to ~25% (peaking). The 1930 forecast of a "splendid employment year" was wrong because 1930 saw widespread job losses, reduced wages, and labor market devastation as the Depression deepened.

Answer:

The prediction was incorrect because the Great Depression, which began with the 1929 stock market crash, caused severe economic collapse in 1930: businesses closed, banks failed, and unemployment skyrocketed (reaching ~25% at its peak), with millions losing jobs, wages falling, and labor markets devastated—directly contradicting the forecast of a "splendid employment year."