The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. Within seven months, every advanced economy had fallen to recession.
The COVID-19 recession causes the U.S. unemployment rate to hit 14.9 percent, its worst rate since the Great Depression.
On May 9, in the year 2020, The COVID-19 recession causes the U.S. unemployment rate to hit 14.9 percent, its worst rate since the Great Depression. This event is recorded as a Historical Events event in the history of May 9, one of 304 recorded events on this date across all of history.
Key Facts
- This event took place on May 9, 2020 (AD era).
- It is categorised as a Historical Events event in recorded history.
- Referenced in 3 Wikipedia articles.
- Wikipedia source last updated on 30 April 2026.
On This Date in History 304
This article draws on content from Wikipedia, available under CC BY-SA 4.0.
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