Historical Year Data · 1973
Labor Force Participation in 1973
Labor Force Participation opened 1973 at 60.00% and closed at 61.20%, a +2.00% move for the year. The high of 61.20% was reached on November 1, and the low of 60.00% on January 1.
Open
60.00%
1973-01
Close
61.20%
12 data points
High
61.20%
Nov 1
Low
60.00%
Jan 1
Full Year Change
+2.00%
1972 Change
+0.50%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 60.00% | 60.00% | 60.00% | 60.00% | +0.00% |
| Feb | 60.50% | 60.50% | 60.50% | 60.50% | +0.00% |
| Mar | 60.80% | 60.80% | 60.80% | 60.80% | +0.00% |
| Apr | 60.80% | 60.80% | 60.80% | 60.80% | +0.00% |
| May | 60.60% | 60.60% | 60.60% | 60.60% | +0.00% |
| Jun | 60.90% | 60.90% | 60.90% | 60.90% | +0.00% |
| Jul | 60.90% | 60.90% | 60.90% | 60.90% | +0.00% |
| Aug | 60.70% | 60.70% | 60.70% | 60.70% | +0.00% |
| Sep | 60.80% | 60.80% | 60.80% | 60.80% | +0.00% |
| Oct | 60.90% | 60.90% | 60.90% | 60.90% | +0.00% |
| Nov | 61.20% | 61.20% | 61.20% | 61.20% | +0.00% |
| Dec | 61.20% | 61.20% | 61.20% | 61.20% | +0.00% |
Events During 1973
1971 Nixon Shock (End of Gold Standard)
Stagflation
August 15, 1971
On August 15, 1971, President Nixon announced the United States would no longer convert dollars to gold at $35/oz, ending the Bretton Woods system and ushering in the modern fiat era.
1973 OPEC Oil Embargo
Stagflation
October 1973 – March 1974
OPEC quadrupled oil prices and embargoed shipments to the United States in response to US support for Israel in the Yom Kippur War. The shock launched a decade of stagflation.
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