![]() | The examples and perspective in this article may not represent a worldwide view of the subject. (July 2023) |
![]() U.S. unemployment rate | |
Duration | 1980–1982[1] |
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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 |
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982.[1][2][3] It is widely considered to have been the most severe recession since World War II until the 2007–2008 financial crisis.[4][5][3]