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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 ...
Although the economy was expanding from 1975 to the first recession of the early 1980s, which began in January 1980, inflation remained extremely high until the early 1980s. The U.S. Bureau of Labor Statistics estimates that 2.3 million jobs were lost during the recession; at the time, this was a post-war record. [4]
The U.S. reported a negative economic growth during the period concerning the 1970s and it remained weak till the 1980s as the post world war II economic boom drew to a close. But it was a different type of recession as it was a scenario of stagflation which is a rare economic consequence.
1970s energy crisis. OPEC oil price shock (1973) Energy crisis (1979) 1972–1973 Indian economic crisis; 1973–1975 recession; Secondary banking crisis of 1973–1975, in the UK; 1979–1980 Indian economic crisis; Latin American debt crisis (late 1970s to early 1980s), the "lost decade"
Following the October 6, 1979 meeting of the Federal Open Market Committee, the federal funds rate increased gradually from 11.5% to an eventual peak of 17.6% in April 1980. [6] This caused an economic recession beginning in January 1980, and in March 1980, president Jimmy Carter created his own plan for credit controls and budget cuts to beat ...
When new gross domestic product figures last month showed US economic growth slowed ... in the 1970s after a spike in oil prices during the Arab oil embargo. ... to that seen in the 1970s and 1980s.
Television music videos. Mall food courts. Cabbage Patch dolls. The 1980s were full of trends and products that lasted beyond the decade. Learn More: 7 Popular Clothing Brands the Middle...
World Bank Group's Franziska Ohnsorge joins Yahoo Finance Live to discuss inflation, recessionary risks, rising rates, and the outlook for the global economy.