1980- The Economic Situation

1980 was characterized by a sluggish economy and accelerated price growth

1980 was an election year.
President Jimmy Carter lost the election by a wide margin to Ronald Regan in 1981. Some of the many topics of interest were the Iranian hostage crisis, nuclear arms treaties, proliferation, Medicare, and Social Security.

Implications:
History has shown that in election years Fashion plays a part in who is elected. According to an article in The Oregonian written by Vivian McInerny, Dress for success believers made a big deal about Ronald Regan wearing brown, instead of a sophisticated navy blue, black or gray suits, but the earthy color made the former Hollywood actor seem more down to earth. Maybe this is why he was elected over Carter and did this color shifting trend catch on in society?

It is also safe to assume that during an election year fashions begin to include statements of political opinion: pins, stickers, t-shirts, pens, and many other items are branded with the candidates names. Not to mention a new president could mean lifestyle changes that come with changes in government policy and funding. This is something to look into more...

America was in a Recession in 1980
In the aftermath of the 1973 oil crisis and the 1979 energy crisis there was an obvious decline in the economic situation followed with a rise in Unemployment which jumped sharply to 6.9% in April 1980 and to 7.5% in May 1980. A mild recession from January to July 1980 kept unemployment high, but despite economic recovery unemployment remained at historically high levels (about 7.5%) through the end of 1981. Inflation had averaged at approximately 3.2% annually in the post-war period, but by 1979, inflation reached a startling 11.3% and in 1980 soared to 13.5%.

Implications:
Many Industries were affected by this recession including the housing market, steel manufacturing, automobile production, and of course retail. During an economic recession the growth of the economy has either stopped or is showing negative growth. This usually results in decreased consumer spending, decrease consumer confidence, and many even affect the style of dress at the time.


June 1980 Saw the lowest Consumer Confidence Index in History
In May 2008 the Consumer Confidence Index dropped to 59.9, the lowest rating it has had since 1980.

Implications:
Our present economy is not far off from the short recession that was seen in the early 1980's maybe we can show that we actually learned something from it...