Yup, was small, but impactful to many. I was just entering the workforce at the time; minimum wage in the US was I think $3.15/hr, gas had just topped $1.00/gallon for the first time and the cost of living had gone up about 20%. Wasn’t fun holding 3 part time jobs and working 60 hours a week to pay for just basic living expenses.
TIL, never heard of that recession before. It last about 8 months and seems to be the smallest labeled recession in the past 100 years
Yup, was small, but impactful to many. I was just entering the workforce at the time; minimum wage in the US was I think $3.15/hr, gas had just topped $1.00/gallon for the first time and the cost of living had gone up about 20%. Wasn’t fun holding 3 part time jobs and working 60 hours a week to pay for just basic living expenses.
it literally gave clinton a cudgel to use against the right just months later - https://en.wikipedia.org/wiki/It’s_the_economy%2C_stupid