Key Facts:Duration: 2 months2 months Peak Unemployment: 14.8%14.8% Impact: Rapid job losses across industries, followed by aggressive government intervention to stabilize the economy. The Early 1990s Downturn: July 1990 to March 1991Lasting for eight months, this recession featured a peak unemployment rate of 7.8%. The Korean War Economic Slump: July 1953 to May 1954One of the shorter recessions, lasting 10 months, with a peak unemployment rate of 6.1%. Recession During the 1960s: April 1960 to February 1961This 10-month slump was marked by a peak unemployment rate of 7.1%. The 1969-1970 Recession: November 1969 to November 1970Spanning exactly 11 months, this downturn involved a peak unemployment rate of 6.1%.