2021 Unemployment Rate Forecast

Goldman sachs projects gdp will grow at a 5 3 pace in 2021 ahead of the consensus around 4.

2021 unemployment rate forecast. Recent wages data showed wages rose just 0 1 in q3 with annual wages growth slowing to a record 1 4. Unemployed people are those who report that they are without work that they are available for work and that they have taken. World europe america asia africa australia g20 country last q4 20 q1 21 q2 21 q3 21.

The firm cautions that the economy will get worse before it gets better due to coronavirus spread. The federal reserve on wednesday predicted the u s. Meanwhile the number of employed declined by 0 31 million to 128 45 million mostly in the manufacturing 1 30 percent.

The number of unemployed persons surged by 2 66 million to 9 77 million. However it predicts the unemployment rate to rise to 7 9 per cent in 2021 compared with 6 8 per cent this year and still be at 7 4 per cent in 2022. In the long term the hong kong unemployment rate is projected to trend around 5 00 percent in 2021 and 4 00 percent in 2022 according to our econometric models.

Unemployment rate forecast 2020 2022. Both the australian treasury and the reserve bank are forecasting the jobless rate to peak around eight per cent this year. The unemployment rate in indonesia surged to 7 07 percent in the third quarter 2020 from 5 28 percent in the same quarter a year earlier amid the economic downturn caused by the coronavirus crisis.

The mof s 2021 malaysian unemployment rate forecast of 3 5 is derived from an estimated 562 6 million unemployed persons in the country versus a labour force of about 51 91 million persons. However in the near term elevated unemployment will weigh on wages. Unemployment rate would fall faster in 2021 than it previously believed but it stuck to a cautious forecast for the broader u s.

Goldman s increased optimism about the vaccine led the firm to increase its 2021 gdp growth forecast to 6 2 from 5 6 and lower its 2021 year end unemployment rate forecast to 6 5 from 7 0.