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Goldman Sachs now expects US unemployment to hit 15%


r2d2

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Goldman revised its forecast because it thinks the US labor market collapse will be even worse than anticipated. It now sees the unemployment rate rising to 15% by the middle of the year, compared to 9% before. The bank has also updated its predictions for an economic rebound between July and September, which it thinks will be stronger than what it had last penciled in. But in the interim, Wall Street is clearly bracing for pain.
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