Goldman Warns Oil Shock Could Cost US 10,000 Jobs Monthly

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Published: 1 hour ago

Goldman Sachs projects higher crude prices will eliminate approximately 10,000 US jobs per month for the remainder of 2024, as elevated energy costs impact the broader economy. Unlike previous oil price surges, increased shale hiring won't offset losses due to automation and restrained capital spending. Rising energy costs typically weaken the dollar by reducing consumer spending power and potentially forcing Fed policy adjustments. USD pairs face downside pressure as economic growth concerns mount from sustained high oil prices.

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