20th century has 12 recessions. The Great Depression was two recessions back-to-back.
1907 : "1907 Panic" ran from May through June. Speculators' losses spread to trust firms. These companies acted like banks but had less cash.
1929–38 (The Great Depression) : Two recessions caused the biggest U.S. economic crisis. In 1933, unemployment hit 24.9 percent and stayed there until WWII.
1945 : February to October was the recession's duration. WWII demobilisation caused it.
1949 : This 11-month recession began in November 1948 and ended in October 1949, with 7.9% unemployment.
1953 : It lasted from July 1953 through May 1954.Following the Korean War, monetary policy tightened.
1957 : In this August 1957-April 1958 recession, GDP decreased 4.1% in Q4 1957 and 10.0% in Q1 1958.
1960 : This recession lasted from April 1960 through February 1961. GDP was -2.1% in Q2 1960, 2% in Q3, and 5% in Q4.
1970 : From December 1969 to November 1970, this recession was moderate. December 1970 saw 6.1% unemployment.
1973-75 : November 1973 through March 1975 was a recession.
1980-82 : This period had two recessions. 1980's first half saw one. Second was July 1981 to November 1982.
1990-91 : July 1990 through March 1991 was a recession. The 1989 S&L crisis, increased interest rates, and Iraq's invasion of Kuwait triggered it.
The 21st century's first decade saw three recessions. Each was worse, albeit for different reasons.
2001 : 2001's recession ran from March to November. It was caused by dot-com boom and bust.
2008–09 : The Great Recession was the longest recession since the Great Depression. 2007 subprime mortgage crisis caused worldwide bank credit crisis.
2020 Recession : The 2020 recession was the worst since 1933. After plummeting 5.1% in the first quarter, the U.S. GDP plummeted 31.2% in the second.
COLA Social Security payment schedule 2022
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