Early 1980s recession
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. It is widely considered to have been the most severe recession since World War II until the 2007–2008 financial crisis.
U.S. unemployment rate | |
| Duration | 1980–1982 |
|---|---|
| Cause | tight monetary policy in an effort to fight high inflation percentages worldwide |
| Outcome | skyrocketing unemployment worldwide, increased wealth inequality, increased divorce rates, urban decay, exacerbation of the Savings and loan crisis, wage stagnation, drop in inflation percentages worldwide |
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