Goldman Sachs warns oil prices could slow US job market
Business
Goldman Sachs says rising oil prices aren't just about pricier gas: they could actually slow the US job market.
With higher fuel costs, people might cut back on spending, which means businesses could hire fewer.
The bank estimates about 10,000 fewer jobs each month and a possible rise in unemployment through the end of the year (2026).
Leisure and hospitality to take biggest hit
Leisure and hospitality could take the biggest hit, losing around 5,000 jobs a month.
Retail, manufacturing, education, and health services are also on the list.
While energy companies might see some gains from higher prices, tech improvements mean they probably will not add many new roles either.