DECEMBER 1969 – NOVEMBER 1970 (11 months)
The Late 60s recession, though not nearly as problematic as its predecessor in the early sixties, was characterized once again by unemployment and unhealthy amounts of inflation. The modern economic cycle seems, usually, to bring about smaller “aftershocks” when a notably sized recession comes to an end.
The late 60s recession is no different. While measures were taken to decrease inflation and help get some jobs opened up, this era marks the beginning of a new era of economic analysis in which governments try new ways of solving the recession problem.
While no recession has ever matched that of the Great Depression, it is important to understand what causes recessions so that they can be forecasted and, maybe, even avoided altogether! Or, at least get cut off early so that they do not get as far out of hand. Needless to say, recessions affect every aspect of life, from the highest executive to the most simple brick layer.