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The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
Recovery from the recession began relatively quickly, with the recession only lasting one quarter according to the NBER. As of 2022, the unemployment rate reached its pre-pandemic levels - nevertheless, in many key aspects and industries, the U.S. economy has not completely recovered from the COVID-19 pandemic.
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 ...
Although the economy is humming, some analysts say that today's rising inflation could trigger tomorrow's recession. But what is a recession, and what can you do to prepare?
Ten of the first 20 confirmed COVID-19 infections in the United States were detected in California, and the first infection was confirmed on January 26, 2020. [ 6 ] [ 7 ] [ 8 ] All of the early confirmed cases were persons who had recently travelled to China, as testing was restricted to this group, but there were some other people infected by ...
No one could have predicted at the beginning of 2020 that the economy would fall into the worst recession since the Great Depression. Yet, the global coronavirus pandemic caused exactly that, as...
Mortgage rates could also take a dip next year, the California Association of Realtors says. ‘Mild’ recession could lower California home prices in 2023. What about SLO County?
At the beginning of the pandemic to early June 2020, Democratic-led states had higher case rates than Republican-led states, while in the second half of 2020, Republican-led states saw higher case and death rates than states led by Democrats. As of mid-2021, states with tougher policies generally had fewer COVID cases and deaths {needs update}.