The U.S. job market is poised for a rapid slowdown as economic growth cools, Goldman Sachs warned in a new report.
“We continue to expect that the slowing economy will lead job growth to fall sharply to 150k/month in 2022H2 and to 60k/month in 2023, causing the unemployment rate to gradually rise to 3.8% at end-2023 and 4.0% at end-2024,” Goldman Chief Economist Jan Hatzius said. “We see risks around this forecast as two-sided, reflecting elevated risk of a recession that would cause greater…
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