Recession of 1960–1961

According to the National Bureau of Economic Research, the recession lasted for 10 months, beginning in April 1960 and ending in February 1961.

[1] The Federal Reserve had started to tighten monetary policy in 1958 and eased off in 1961.

[2] During this recession, the GDP of the United States fell 1.4 percentage points.

Though the recession ended in February 1961, the unemployment rate did not peak for several more months.

In May 1961, the rate reached its height for the cycle of 7.1 percent.