Goldman says the US could lose 10,000 jobs a month this year as the oil shock ripples through the economy

Goldman Sachs says higher oil prices could lead to about 10,000 job losses per month and forecasts the unemployment rate will rise to 4.6% by year-end. This signals a meaningful hit to labor-market momentum and poses downside risk to consumer spending and growth, especially in energy-exposed sectors.

Analysis

Goldman Sachs says higher oil prices could lead to about 10,000 job losses per month and forecasts the unemployment rate will rise to 4.6% by year-end. This signals a meaningful hit to labor-market momentum and poses downside risk to consumer spending and growth, especially in energy-exposed sectors.