COVID-19 recession
The COVID-19 recession is an ongoing global economic recession in direct result of the COVID-19 pandemic. This recession is currently the worst global economic crisis since the Great Depression. 

Following a global economic slowdown during 2019 that saw stagnation of stock markets and consumer activity, the COVID-19 lockdowns and other precautions taken during the COVID-19 pandemic threw the global economy into crisis. Within seven months, every advanced economy had fallen to recession or depression, while all emerging economies were in recession. Modeling by the World Bank suggests that in some regions a full recovery will not be achieved until 2025 or beyond.

The recession has seen unusually high and rapid increases in unemployment in many countries. By October 2020, more than 10 million unemployment cases had been filed in the United States, swamping state-funded unemployment insurance computer systems and processes. The United Nations (UN) predicted in April 2020 that global unemployment will wipe out 6.7% of working hours globally in the second quarter of 2020—equivalent to 195 million full-time workers. In some countries, unemployment is expected to be at around 10%, with more severely affected nations from the COVID-19 pandemic having higher unemployment rates. Developing countries were also being affected by a drop in remittances, exacerbating COVID-19 pandemic–related famines.

The crisis' onset coincided with the 2020 stock market crash, which saw major indices drop 20 to 30% in late February and March. Recovery began in early April 2020, and many market indices recovered or even set new records by late 2020. 

The recession and the 2020 Russia–Saudi Arabia oil price war led to a drop in the price of oil; the collapse of tourism, the hospitality industry, and the energy industry; and a downturn in consumer activity in comparison to the previous decade.
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