Coronavirus-induced economic recession was not that bad – Goldman Sachs

Omkar Godbole FXStreet Contributor

According to the investment banking giant Goldman Sachs, the "scarring effect" from the coronavirus-induced pandemic recession has been "surprisingly limited," and the "damage has so far been much less than initially feared."

Key quotes (Source: ZeroHedge)

Labor demand has rebounded much more quickly than the last cycle, reducing the risk of widespread, long-term unemployment.

Most of the remaining job losers are either still on temporary layoff or are in industries that should largely recover with a vaccine.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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