Oil Prices Cut 10k Jobs Monthly, U.S. Unemployment Rises
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Goldman Sachs predicts surging oil prices will cut 10,000 jobs from U.S. payrolls monthly until 2026. Despite this, the impact is less severe than past oil shocks due to reduced oil usage per dollar of GDP and the shale booms job boosts. Brent crude is expected to average $105 in March, $115 in April, and $80 by Q4 2026, slightly increasing unemployment to 4.6% by Q3 2026, with leisure, hospitality, and retail sectors most affected.
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