A new Goldman Sachs report indicates the U.S. economy could recover from the pandemic and shutdowns faster than originally thought. It indicates the country will soon see a “hiring boom” as COVID-related restrictions are rolled back.
The report is optimistic about 2021. A group of the investment firm's economists projects the unemployment rate could fall from 6.2% all the way down to 4.1% or lower by the end of the year.
“[The hiring is] in categories that we want to start seeing. So even within hospitality and leisure that made up 90 percent, 75 percent of that is bars and restaurants. Which we have not seen throughout the entire COVID pandemic,” employment expert and CareerBuilder CEO Irina Novoselsky told Fox News.
Novoselsky also says half of the country's states have seen double digit job posting growth. Economists say reopening, fiscal stimulus, and pent-up savings are all helping.