Unemployment rate to hit 50-year low by end of 2022: Goldman Sachs

Nov 16, 2021
352 views
0 comments
Share
Recruiting

Goldman Sachs told clients on Sunday that the economic recovery from covid 19 would reaccelerate in the coming quarters, driving the unemployment rate back to a 50-year low by the end of next year. After slowing down this summer, the economy will see a boost from the reopening of the service sector, consumer spending and inventory restocking. Goldman Sachs said that the job market will likely reach maximum employment by mid-2022 due to the "red-hot demand for workers. The unemployment rate is expected to fall from today's 4.6% to 3.7% by mid-year and 3.5% by the end of the year. At 3.5%, the unemployment rate would match the 50-year low that it reached in 2019 and repeated in early 2020. This would be a dramatic improvement from April 2020 when the pandemic erupted and the unemployment skyrocketed to 14.8%.

Goldman Sachs is less optimistic about the prospects of luring Americans back into the workforce. The report said, "While labor force participation is likely to remain below its pre-pandemic trend, this looks structural or voluntary in an environment where job opportunities are plentiful."

Source: CNN

352 views
0 comments

Tags In

Rural Unemployment

Previous days news

Nov 15 Nov 12 Nov 11 Nov 10 Nov 9

Best tech jobs in the United States : BLS data

Sep 06, 2022
785 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
668 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
840 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
645 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
900 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Unemployment rate to hit 50-year low by end of 2022: Goldman Sachs

Unemployment rate to hit 50-year low by end of 2022: Goldman Sachs

Tags In

Others news

Category

Tags

Articles