How did the US economy change in the 1970s?

In the 1970s, the US economy experienced significant challenges, notably stagflation, which is characterized by high inflation combined with stagnant economic growth and high unemployment. The oil crises of 1973 and 1979 exacerbated these issues, leading to soaring energy prices and disrupted supply chains. Additionally, the decade saw a shift from manufacturing to service-oriented jobs, marking a transition in the labor market. Overall, the 1970s were marked by economic instability and transformative changes in industry and consumer behavior.