What month marked the low point of the US recession?

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April 2020 marked the low point of the US recession.

The US recession, triggered by the coronavirus pandemic, officially concluded in April 2020, reaching its nadir that month before a subsequent rebound. This economic downturn, while severe in its initial impact, was notably brief in duration, as confirmed by the US Business Cycle Dating Committee.
Recession Trough Identified

The US Business Cycle Dating Committee, a panel of macroeconomists, determined that April 2020 represented the lowest point of the economic contraction. This designation was based on indicators of both employment and production, which clearly signaled a trough in that month, followed by a recovery beginning in May. The committee noted that while the economy had not yet returned to normal operating capacity, these key metrics pointed definitively to April 2020 as the turning point.
Unprecedented Decline and Duration

The committee's assessment highlighted that the defining characteristic of this recession was the "unprecedented magnitude of the decline" rather than its length. Typically, a recession is defined by depth, duration, and diffusion. In this instance, the rapid economic shutdown in March 2020 led to the disappearance of approximately 22 million jobs from company payrolls by April. This significant job loss was a primary driver for substantial government relief packages.
Shortest Recession on Record

The designation of April 2020 as the recession's end date solidifies this period as the shortest on record. It was only two months long, a third of the duration of the six-month downturn in early 1980 and a quarter of the length of the recession following the 2001 tech bubble collapse. This brevity has implications for understanding the effectiveness of policy responses, such as direct household support and business financing.
Employment Recovery Lagging Output

While the economic contraction officially ended in April 2020, the recovery in employment has been more gradual. By May 2020, about 2.8 million jobs were regained, with an additional 15 million jobs recovered over the subsequent year. However, more than 7 million jobs remained lost, indicating a significant disparity between output recovery and employment levels, with lower-wage and less educated workers disproportionately affected.

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What month marked the low point of the US recession?

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