• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Thursday, June 1, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
Goldman Sachs

Economic Predictions for 2022 and The Omicron Effect on Forecasts

The situation is changing with alarming alacrity. It was only on Saturday that Goldman Sachs cut its previous forecast of 4.2% economic growth down to 3.8%.

by Bia Pendelton, California Business Journal
A A
Share on FacebookShare on Twitter

After the year of Shock and Awe, what’s in store for 2022 for industries and economies worldwide? Will 2022 be better or will fear over the Omicron variant of the Corona Virus continue to exert downward pressure on growth?

And what are the economic predictions for 2022 and are there any areas where there is optimism? The situation is changing with alarming alacrity. It was only on Saturday that Goldman Sachs cut its previous forecast of 4.2% economic growth down to 3.8%.

Economist Joseph Briggs said that the Omicron variant could slow economic reopening but at the same time, they only expect the economic effect to be a modest drag rather than a full-on emergency stop.

Labor market

The labor market is expected to carry on being a relatively good news story even if a little more muted due to Covid 19. November figures show that unemployment has fallen to a pandemic low with a rate of 4.2%. America’s labor force participation rose to 61.8% — the highest it has been since March 2020. Job gains total more than six million.

Elise Gould of the Economic Policy Institute says she is confident that those figures mean the economy will be well on track for a full recovery by the end of 2022.

However, worker shortages could persist if people do not feel comfortable returning to work, according to Goldman Sachs. Where people work in close proximity to each other, there were outbreaks of Delta variant earlier this year. This led to supply-chain turmoil seeing factories in Asia closing down. The areas that have seen significant disruption include the supply of computer chips that are fundamental to so many other areas of manufacturing.

The Goldman Sachs report also noted that these disruptions will hopefully be mitigated by vaccination, as long as there was an increase in vaccination rates among foreign trade partners.

Goldman Sachs CEO David Solomon
Goldman Sachs CEO David Solomon

Technology

Essentially, we are still in uncharted waters and there are many factors that could blow the recovery off course. The pandemic changed the way in which people work. Those whose employment allows them to work remotely will continue to see significant developments in the way in which technology will change their working life. The shift away from full-time office work to a more blended approach to employment will almost certainly continue in 2022.

ADVERTISEMENT

Growth

There are some industries that have actually thrived during the pandemic including online shopping and gambling. Now that people are accustomed to the changes they have made, these sectors will continue to be major players in 2022.

Online shopping was already firmly established before March 2020 and has continued to go from strength to strength. The online gambling industry has also seen significant uptake over the last 18 months. Changes to both regulations and the amount of time people had, have seen more people trying out online gambling than ever before.

These gambling stats show that online participation is likely to be a trend rather than a blip. The companies who operate the licenses for online Sportsbook, Casino, Slots, and Social Casino are looking forward to continued growth in 2022.

Related Posts

cryptocurrencies
Best Crypto Faucets You Can Try In 2021 and 2022
Amazon
Buying on Amazon is effortless. How about selling on it? That’s a much different story
Top Career Paths in California for 2022
Top Career Paths in California for 2022
fruit basket
What Is The Future Of Local Delivery Companies?
airplane at sunset
Why Are Hackers Targeting Hotels and Travel Companies?
Tags: CEOeconomygrowthInstitutenewsonlineonline gamblingregulationstechnologytrade
ADVERTISEMENT
Bia Pendelton, California Business Journal

Bia Pendelton, California Business Journal

Related Posts

cryptocurrencies
Best Crypto Faucets You Can Try In 2021 and 2022
Amazon
Buying on Amazon is effortless. How about selling on it? That’s a much different story
Top Career Paths in California for 2022
Top Career Paths in California for 2022
fruit basket
What Is The Future Of Local Delivery Companies?
airplane at sunset
Why Are Hackers Targeting Hotels and Travel Companies?
ADVERTISEMENT

CBJ Newsletter

Facebook Twitter LinkedIn Instagram LinkedIn

Advertise With CBJ

Contact Rick@CalBizJournal.com

CBJ Rates and Demographics

ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • More Truth About Temu: Is Temu A Chinese Company?

    The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • 30 Best Temu Alternative Apps To Buy from Online

    2 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0

Latest Articles

Source: https://www.pexels.com/photo/photo-of-a-gold-course-13655869/

Secrets to a Pristine Golf Course

Source: Pexels

Solving the American Drug Epidemic

The Future of Customer Service: Call Center Outsourcing

Strategy Guide To Playing Slots And Making The Most Of A Limited Budget When Playing

Can a Californian Franchise win the MLS Cup in 2023?

The Five States Most Likely To Make Online Gambling Legal Next

Designing Glass Conference Rooms: Tips and Tricks for a Functional and Stylish Space

Casino Vibes in Vietnam: Unveiling the Live Casino House Experience

The Role of Gamification in Online Casino Security

Comparing the Cost and Benefits of Different Types of SSL Certificates

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR