Recessions and Depressions
Economic downturns in American history have ranged from mild recessions to severe depressions.
Unemployed men queued outside a depression soup kitchen opened in Chicago by Al Capone, 1931 (U.S. Information Agency via Wikimedia Commons)
Last updated October 10, 2023
Essays in This Theme
The Great Depression - The longest and deepest downturn in the history of the United States and the modern industrial economy lasted more than a decade, beginning in 1929 and ending during World War II in 1941.
The Great Recession - This 2007-09 economic downturn was the longest since WWII
The Great Recession and its Aftermath - The deep, protracted downturn in 2007-09 was followed by an unusually slow recovery
Recession of 1937–38 - America’s third-worst downturn of the 20th century
Recession of 1981–82 - This economic downturn was triggered by tight monetary policy in an effort to fight inflation
