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The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933.
In 1937, the American economy unexpectedly fell, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. [70] A contributing factor to the Recession of 1937 was a tightening of monetary policy by the Federal Reserve.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
The New Deal and Roosevelt's leadership were under assault during Roosevelt's second term, which suffered new economic setbacks in the Recession of 1937. A sharp economic downturn began in the fall of 1937 and continued through most of 1938.
3 years, 7 months. The Great Recession–aka The 2008 Financial Crisis. December 2007. June 2009. 1 year, 6 months. The Early ’80s Recession. July 1981. November 1982. 1 year, 4 months. The Mid ...
Jean Harlow shortly before her death in 1937. January 1 – J. Gresham Machen, Presbyterian theologian (born 1881) January 2 – Ross Alexander, actor (born 1907) January 11 – Emma Amelia Cranmer, prohibition reformer and suffragist (born 1858) January 13 – Martin Johnson, adventurer and filmmaker (born 1884)
For example, the NBER didn't declare the recent pandemic-related recession in March 2020 an official recession until July 2021. The contrarian: Michael Burry of "The Big Short" fame in 2015.
1845–late 1846 recession — ~1 year ~2 years −5.9% — This recession was mild enough that it may have only been a slowdown in the growth cycle. One theory holds that this would have been a recession, except the United States began to gear up for the Mexican–American War, which began April 25, 1846. [16] 1847–1848 recession late 1847 ...