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May, Interest rates dropped and payrolls turned positive
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July, Recession "ends"
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January, Rescission starts after inflation started rising.
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Period: to
1980-1989 timeline
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July, economic downturn triggered by tight monetary policy in an effort to fight mounting inflation.
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March, Unemployment rate was 9%
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October, Inflation had fallen to 5 percent and long-run interest rates began to decline.
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December, Unemployment rate stood at its peak of 10.8%.
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End of 1983, unemployment rate was 8.3%
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1984 presidential election unemployment rate was 7.2%
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The unemployment rate did not fall below 6%, until September 1987.