1920 Recession (1 Jan 1920 Jahr – 1 Jul 1921 Jahr)

Beschreibung:

Began 10 months after WWI Recession
Lasted 1 year and 6 months
Unemployment rate: 5.2
Caused by troops returning from the war, which created a surge in the civilian labor force and more unemployment and wage stagnation; a decline in agricultural commodity prices because of the post-war recovery of European agricultural output, which increased supply; tighter monetary policy to combat the postwar inflation of 1919; and expectations of future deflation that led to reduced investment.