The poster above argued that the economic malaise of the 1970s could have been avoided if there was no Yom Kippur War. While this is true, there is still the problem. Inflation was around 4 % in October 1968 partly due to the combine spending because of Vietnam and the Great Society era domestic programs
Assuming the POD to be a peace accord in 1968-1969, then it is probable that the stimulus of the Vietnam war would ease, though a Humphrey administration would;d probably continue aid to Vietnam and high domestic spending. OTL there was a period of fiscal tightening in 1969-1970 combined with monetary tightening which produced a deflationary recession, (The Boeing 2707 and NASA were notable victims of this move). A president Humphrey would be unwilling to make such cuts to domestic spending, especially towards something which Scoop Jackson so heavily supported. He is likely to try and increase spending in areas, especially if he achieves Universal Health Care during his first term. Hubert Humphrey was committed to full employment and very much against any form of Wage and Price controls, which the unions very much opposed. As such inflation probably increases during his first term.
This raises the prospect of whether or not he closes the Gold Window. I suspect he may have done so for it would have been impossible to maintain due to the United States increasingly burdens foreign deficits and the way the West Germany had already devalued their currency. Again without a Vietnam war, Humphrey may try to put this off through tax increases, spending cuts or a program of monetary tightening.
As a result a First term Humphrey administration would probably be similar to that of Nixon OTL. Even if there was no middle east conflict to push up oil prices, the economy would still be in a dire state due to high inflation, which would mean a probable rise in unemployment during Humphrey's second term.