History of U.S. Recessions & Economic Contractions
Compare every major U.S. business-cycle contraction from the 1929 Great Depression to the 2020 COVID-19 shock: inspect peak-to-trough dates, duration in months, Real GDP drawdown, peak civilian unemployment, and CPI inflation during the downturn.
| Recession / Contraction | Peak to Trough | Duration | Real GDP Drop | Peak Unemployment | CPI Inflation |
|---|---|---|---|---|---|
| 2020 COVID-19 Pandemic Shock | February 2020 to April 2020 | 2 mos | -2.2% | 14.8% | 1.2% |
| 2007-2009 Great Recession & Global Financial Crisis | December 2007 to June 2009 | 18 mos | -4.3% | 10% | -0.4% |
| 2001 Dot-Com Bust & 9/11 Recession | March 2001 to November 2001 | 8 mos | -0.3% | 6.3% | 2.8% |
| 1990-1991 Savings & Loan and Gulf War Recession | July 1990 to March 1991 | 8 mos | -1.4% | 7.8% | 4.2% |
| 1981-1982 Volcker Disinflation Recession | July 1981 to November 1982 | 16 mos | -2.6% | 10.8% | 6.2% |
| 1980 Energy & Credit Controls Recession | January 1980 to July 1980 | 6 mos | -2.2% | 7.8% | 13.5% |
| 1973-1975 Oil Embargo & Stagflation Recession | November 1973 to March 1975 | 16 mos | -3.1% | 9% | 11.1% |
| 1969-1970 Recession | December 1969 to November 1970 | 11 mos | -0.2% | 6.1% | 5.8% |
| 1957-1958 Eisenhower Recession | August 1957 to April 1958 | 8 mos | -3% | 7.5% | 2.8% |
| 1953-1954 Post-Korean War Recession | July 1953 to May 1954 | 10 mos | -1.9% | 6.1% | 0.7% |
| 1945 Post-World War II Demobilization Recession | February 1945 to October 1945 | 8 mos | -11.6% | 4.3% | 2.3% |
| 1937-1938 Roosevelt Recession | May 1937 to June 1938 | 13 mos | -3.3% | 19% | -2.8% |
| The Great Depression (1929-1933) | August 1929 to March 1933 | 43 mos | -26.7% | 24.9% | -25.1% |