Goldman Sachs Forecasts Unemployment To Peak At 25%, Remain High For Next Two Years

Goldman Sachs expects the U.S. unemployment rate to peak at 25% amid the coronavirus pandemic, according to a recent note from its chief economist Jan Hatzius by skleb1234

Goldman expects the U.S. unemployment rate to peak at 25% amid the coronavirus pandemic, according to a recent note from its chief economist Jan Hatzius.

High unemployment will linger because of policies that discourage workers from returning to their jobs, Goldman says: “Compared with a European-style system that is more focused on job preservation [via wage subsidies], many more will thus have to find truly new jobs.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Forbes /  🏆 394. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs Forecasts Unemployment To Peak At 25%, Remain High For Next Two YearsWidespread unemployment could linger longer than expected and slow an economic recovery.
Read more »

Stocks to buy, hedge fund popular picks for big gains: Goldman Sachs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »

Here are Tuesday's biggest analyst calls of the day: Southwest, Goldman Sachs, Gilead & moreNew for subscribers: Here are Tuesday's biggest analyst calls of the day: Southwest, Goldman Sachs, Gilead & more Check out CNBCPro for a free trial.
Read more »

Goldman Sachs Forecasts Unemployment To Peak At 25%, Remain High For Next Two YearsWidespread unemployment could linger longer than expected and slow an economic recovery.
Read more »

Tones And I, Sia, Lady Gaga Among Winners at 2020 APRA Music AwardsWith two trophies, including the coveted song of the year, Tones And I was the big winner at the APRA Music Awards on Monday (May 25).
Read more »

Priyanka Chopra & Nick Jonas' First Date ThrowbackPriyanka Chopra took to social media on Monday (May 25) to celebrate the two-year anniversary of her first date with husband Nick Jonas.
Read more »