Goldman Sachs Forecasts Jobless Rate Falling To 4.1%

The Hill reports:

The unemployment rate could drop to 4.1 percent or even lower this year, according to a Goldman Sachs forecast released late Sunday night.

Ultimately, the bank forecasts that unemployment will drop to 3.2 percent by 2024. If that were to happen, it would surpass the 50-year record set in the Trump administration, notching a significant win for President Biden and boosting his chances for reelection.

But the research note also pointed out that generous unemployment benefits approved in the $1.9 trillion relief plan may play a role in pushing the recovery toward the end of the year.

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Goldman Sachs projects jobless rate falling to 4.1 percent https://t.co/3g4JaCukdj pic.twitter.com/KrOgzMlEO9

— The Hill (@thehill) March 8, 2021