According to Goldman Sachs Group(Goldman Sachs) predicts that the unemployment rate in the United States may fall to close to the level before the COVID-19 epidemic this year.

Goldman Sachs Group expects the US unemployment rate to fall to 4.1 per cent or even lower, depending on the strength of the economic recovery amid more fiscal stimulus and the recovery of jobs in the sectors hardest hit by the epidemic.

In addition, Goldman Sachs Group's forecast also shows that the US economy is likely to return to pre-epidemic wages by the end of 2022, a view supported by Treasury Secretary Janet Yellen on Monday.

"We expect the hiring boom this year to be mainly due to strong demand growth driven by economic reopening, fiscal stimulus measures and a backlog of savings," Goldman Sachs Group economist Joseph Briggs said in a report.

In February last year, the US unemployment rate was 3.5 per cent, the lowest level in more than 50 years. Affected by the COVID-19 epidemic and economic blockade measures, the unemployment rate surged to 14.8 per cent in April last year and has now fallen to 6.2 per cent. Despite this, total employment is still about 8.5 million lower than a year ago.

"another key reason why we expect the labour market to recover rapidly is that 2/3 of the jobs still lost to the epidemic are highly sensitive to the virus, and employment in these sectors is set to rebound as the economy fully opens up," Briggs said. The sharp increase in leisure and hospitality jobs in the February non-farm payrolls report provides an early hint of what is about to happen. "

The Labor Department reported last Friday that it added 379000 non-farm jobs in February, of which leisure and hospitality jobs increased by 355000.