1945 – Recession hits US economy, unemployment reaches 5.2%, GDP
declines 12.7%.
1953-4 - Recession hits US economy, unemployment reaches 6.1%, GDP
declines 2.6%
1960-1 – Recession hits US economy, unemployment reaches 7.1%, GDP
declines 1.6%
1969-70 – Recession hits US economy, unemployment reaches 6.1%, GDP
declines 0.6%
1971 – US pulls out of Breton-Woods Accord and abandons the gold
standard.
1973 – OPEC raise oil price by 70%
1974 – Inflation hits 11%
1980 – Recession hits US economy, unemployment reaches 7.8%, GDP
declines 2.2%