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Goldman Sachs forecasts a jobs boom, says unemployment rate could fall to 4.1% by the end of 2021
By: Jeff Cox, CNBC
March 8, 2021

Unemployment could fall this year to close to where it was prior to the Covid-19 pandemic, according to a Goldman Sachs forecast that sees a hiring boom ahead.
The firm projects an unemployment rate of 4.1% that could be even lower depending on just how powerful the recovery gets amid more fiscal stimulus and a return to work for sectors hit hardest by the coronavirus.

Moreover, the forecast sees the economy returning to its pre-pandemic payroll level well ahead of the end of 2022, a view that Treasury Secretary Janet Yellen backed up Monday in an interview with MSNBC.

β€œThe main reason that we expect a hiring boom this year is that reopening, fiscal stimulus, and pent-up savings should fuel very strong demand growth,” Goldman economist Joseph Briggs said in a note. Though the forecast already is the lowest on Wall Street, there is still β€œsome possibility of a return to the pre-pandemic rate in the mid-3s this year.” Read more
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