Lots of food rationing, most men were away at war so women took a much more involved role across a number of industries, people were on edge, but unscathed, economy was recovering from the boom in government spending due to the war. Post war the 1940s was a pretty good time, though there was a recession in the fall of 1945 and in the fall of 1949. Lots of people who'd been unable had kids though, led to the baby boom. Overall a decent time in the latter half of that decade, I think.