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The Recession of 1973-1975

By: Luis , and Francisco
by

Francisco Mendoza

on 11 February 2013

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Transcript of The Recession of 1973-1975

The Recession of 1973-1975 the recession of 1973 officially started in November and lasted to march of 1975. This recession was one of the worst since WWII . A recession happens when overall production of goods and services declines. In this recession happen because we peaked in our production. In our economy once we peak in our production we begin to decline. Some are every sever and other you don't even notice. Unemployment Rate The recovery. The unemployment rate,Quarterly U.S. Unemployment Rates
for the Period 1973IV to 1975IV
Quarter Unemployment
Rate
1973 IV 4.9%
1974 I 5.0%
1974 II 5.3%
1974 III 5.9%
1974 IV 7.2%
1975 I 8.5%
1975 II 8.7%
1975 III 8.6%
1975 IV 8.3% what caused this recession? The unemployment rate jumped from the five percent level to nearly the nine percent in about a year and a half. The unemployment rate goes up if the creation of jobs fall short of the increase in the labor force. Well one major factor was the decline in investment purchases. From 1973IV to 1975II the level of investment purchases declined by 89 billion 1972 value dollars. WHY WAS GDP FALLING? QuarterGDP
1973III 1236
1973IV 1241
1974I 1229
1974II 1217
1974III 1210
1974IV 1187
1975I 1157
1975II 1168 The the decline in production can no longer go any. Thus leading us to the next step of all recession. Which is recovery. The recovery is always after the decline of a recession stops.In this phase we experience better pay, more available jobs, and lower prices on good and services.
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