Goldman Sachs: US Job Growth to Slow by 10,000 Monthly Amid Rising Oil Prices

• Goldman Sachs predicts a 10,000 monthly hit to US job growth through 2026 due to rising oil prices.
• The bank forecasts a gradual rise in unemployment, reaching 4.6% by Q3 2026, up 0.2 percentage points.
• Impact is less severe than in past decades due to lower US oil dependence and shale production expansion.
• Slower hiring, particularly in consumer-facing industries like leisure and hospitality, will drive job losses.
• Oil extraction job gains may be limited despite higher prices due to improved efficiency.