HelpWanted.com

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

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 
Tags In
Rural Unemployment

Previous days news

Nov 15 Nov 12 Nov 11 Nov 10 Nov 9

You might also like

Best tech jobs in the United States : BLS data

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

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

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

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

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

Others news
Category
Tags
Pune Jobs Domestic Workers Vocal For Local Social Media Jobs Jobs In Kashmir E-com Jobs Centre For Monitoring Indian Economy Economy Slowdown Rajouri Jobs CFOs Telangana Jobs BEL Jobs Hospitals Interpersonal Skills SBI Workplace Diversity Jobs In Odisha Skilling And Training Jobs In Noida Gig Workers Reserve Bank Of India Odd Jobs Pandemic Migrant Workers Jobs In Demand Cricket Coach Ease Of Business IBPS Consumer Economy Grey Collar Jobs New Workers Campus Hiring Information Technology Power Grid Japanese Lang Job In Maharashtra PhonePe Jobs Quarterly Employment Survey Pharma Jobs Class Of 2020 Richest People In America Job Scam RBI Hotel Industry Hyderabad Jobs SAIL Recruitment Economic Struggle Corporate Strategy Management IIT Placements Job Fair In Tamil Nadu
Articles

25+ Hiring Strategies To Help You Source Talented Candidates

Companies have resorted to digital hiring processes to ensure health, safety, and convenience to jo ...Read more

How to Avoid Burnout in 2022

Whatever your work setting may be, it’s important to stay productive while you don’t burn out. Here ...Read more

Did You Lose Your Job During COVID-19? Here’s What to Do

First of all, know that you’re not alone in this. About 20.6 million Americans have lost their jobs ...Read more

Don’t Fall Prey to These Job Scams

When people are looking frantically for employment, scammers get a chance to exploit their weakness ...Read more