Goldman Sachs economists

  • now expect the economy to grow 2.4% in 2022 (from 2.6% previously forecast
  • & 1.6% in 2023 (from 2.2% previously)

Also revised their jobless rate forecasts:

  • 3.4% for 2022
  • and to a high of 3.7% in 2023

Remarks from the reports:

  • slowdown in growth should help lower job openings, it is also likely to raise the unemployment rate a bit, particularly since the job openings rate typically only falls when unemployment spikes in recessions
  • optimistic that a sharp rise in the unemployment rate can be avoided

For the S&P500 GS (chief equity strategist) targets 4300.