What was the economic recession in the 1970s?

Answer 1

no jobs to be got. mass unemployment. lots of strikes

Answer 2

The economic recession of the 1970s was the direct result of OPEC (representing oil producing nations) flexing its muscle for the first time and rationing and increasing the price of crude oil sold to the West. It resulted in rampant inflation - so much so that here in the latter half of the decade wages were regularly increased (more often than annually which is the usual review period) by reference to the rate of inflation at the time in order that peoples' incomes kept up with prices. That in itself was inflationary.

Answer 3

We saw it coming and left at the beginning of 1971.
My husband worked for a computer company involved in space and military systems . By Spring 1972 the other 5 from his office had also spread their wings and left the sainted isle (or should that be scented?).
The TUC tried to bring the Government to its knees. Although TUC members only represented 3% of the voting population at the time.
Let's hope they don't try it again!

Answer 4

What I remember most was gas rationing. If your license plate number ended in an odd number, you could only get gas on odd numbered days. Even number, on even numbered days. And there were LONG lines at the gas pumps. Stations frequently ran out of gas.

The other thing I remember is union strikes, picket lines, and scabs. If the union wouldn't do the job for $15 and hour, many other people took those jobs for $12 an hour!

Answer 5

It was an economic recession

Answer 6

Edward Heath's Tory government (1970-4)...three day week and London dockers supporting Enoch Powell's repatriation stance...amongst other oddities.

Answer 7

mass strikes panic buying rubbish piled in the streets.queues outside shops.arh the good old days of recession.you never had it so good..well you never had it at all.

Answer 8

a period when the economy was in recess