major recession; serious depression
General term for a severe economic downturn, not tied to a specific historical event.
When a major recession continues, the unemployment rate skyrockets.
Long Depression (1873-1896)
Historical term referring to the global economic depression from 1873 to 1896.
The Long Depression had a major impact on the global economy in the late 19th century.
Historical term for the worldwide economic depression of the 1930s. Often referred to as 大恐慌, but 大不況 is also used.
See also: 大恐慌
During the Great Depression, many banks went bankrupt.
Great Recession (2007-2009)
Refers to the global financial crisis and recession from 2007 to 2009.
Due to the Great Recession, stock prices plummeted worldwide.
Compound of 大 (dai, 'great') and 不況 (fukyō, 'recession, depression').