Lasting fallout in the US labor market will keep the unemployment rate higher than in peer countries for more than a year, Goldman Sachs economists said in a Tuesday note. The bank expects the US unemployment rate to reach 12% by the end of the year before sliding to 8% alongside Canada by the end of 2021. The UK, Japan, Germany, and Australia will enjoy a far less pronounced labor-market hit, Goldman said, and end next year with their rates well below 8%. The US sits in a joblessness crisis partially stoked by policy side effects, according to the bank. While European economies turned to job-preservation policies ... (full story)