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US unemployment rate, 1973–1993. The United States entered recession in January 1980 and returned to growth six months later in July 1980. [1] Although recovery took hold, the unemployment rate remained unchanged through the start of a second recession in July 1981. [2] The downturn ended 16 months later, in November 1982. [1]
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
June – The United States enters the severe early 1980s recession, exactly a year after the more minor 1980 recession ended; the unemployment rate is 7.2% June 5 – The Centers for Disease Control and Prevention report that five homosexual men in Los Angeles , California , have a rare form of pneumonia seen only in patients with weakened ...
The joblessness rate fluctuated between 5.7% and 6% during Carter's presidency until 1980, when it jumped up to 7.8% amid recession. When Carter left office in 1981, it sat at 7.4%. When Carter ...
While the Soviets had enjoyed great achievements on the international stage before Reagan entered office in 1981, such as the unification of their socialist ally, Vietnam, in 1976, and a string of socialist revolutions in Southeast Asia, Latin America, and Africa, the country's strengthening ties with Third World nations in the 1960s and 1970s ...
Unemployment rates historically are lower for those groups with higher levels of education. For example, in May 2016 the unemployment rate for workers over 25 years of age was 2.5% for college graduates, 5.1% for those with a high school diploma, and 7.1% for those without a high school diploma.
The U.S. labor market remains strong, but some point to high inflation and credit card debt as indicators of a failing economy.
The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%.