What is Early 1990s recession in the United States?
The [[United States]] entered [[recession]] in 1990. It lasted eight months until March 1991.<ref>{{cite web|title=NBER Business Cycle Dating Committee|publisher=National Bureau of Economic Research|url=https://www.nber.org/news/business-cycle-dating-committee-announcement-december-22-1992|access-date=June 1, 2021}}</ref> The recession was mild compared to other recessions post-[[World War II]]. However, it was marked by a substandard recovery, also called a [[jobless recovery]]. [[Unemployment]] continued to rise until June 1992 even though a positive [[gross domestic product|economic growth]] had returned the year before.<ref>{{cite web|title=The St Louis Fed|publisher=Fred|url=https://fred.stlouisfed.org/graph/fredgraph.png?g=CS9w|access-date=June 1, 2021}}</ref> July 1990 was the end of what was then the longest peacetime expansion in United States history.<ref>{{cite journal |title=The 1990-1991 Recession |publisher=Monthly Labor Review |url=https://www.bls.gov/opub/mlr/1994/06/art1full.pdf |access-date=June 1, 2021 |journal=Monthly Labor Review}}</ref> The United States had major job growth and declining unemployment before the 1990s recession. The hardest hit regions were [[New England]] and the [[West Coast of the United States]]. The [[Midwestern United States|Midwest]] was less affected.<ref>{{cite journal |title=Atlantic and Pacific Coasts' Labor Markets Hit Hard |publisher=Monthly Labor Market |url=https://www.bls.gov/opub/mlr/1993/02/art3full.pdf |access-date=June 1, 2021 |journal=Monthly Labor Market}}</ref> Job losses and unemployment kept rising and hit 7.8% in June 1992. Other factors led to a slow [[economy]]. The factors included a dip in [[office]] construction due to too much building in the 1980s.<ref>{{cite journal |title=The Labor Market Improves in 1993 |publisher=Monthly Labor Review |url=https://www.bls.gov/opub/mlr/1994/02/art1full.pdf |access-date=June 1, 2021 |journal=Monthly Labor Review}}</ref> Local markets in New England, [[Texas]] and [[Southern California]] went through the