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Recent estimates from Goldman Sachs project U.S. unemployment to peak around 25% later in 2020.

A report by Goldman Sachs economists estimated that the unemployment rate in the United States will peak at 25% in the year 2020.

A report by Goldman Sachs economists estimated that the unemployment rate in the United States will peak at 25% in the year 2020.The report estimated that the unemployment rate in the United States would peak at 25% up from a previous forecast of 15% in the year 2020 amid coronavirus pandemic. It warned that the readings may rival the worst period of the Great Depression. The bank also downgraded the labour market forecast to assume that more workers will lose their jobs, and a larger share of them will be classified as unemployed. It said that the new forecasts are based on government statistics, the first glimpse of the reopening process and new big data sources.

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