Goldman Economist Says US Layoffs Were Far Higher Than Labor Department Reported

People line up outside Kentucky Career Center prior to its opening to find assistance with their unemployment claims in Frankfort, Ky., on June 18, 2020. Reuters/Bryan Woolston

The U.S. Labor Department’s job openings report may have overlooked a recent upturn in layoffs, according to new research from Goldman Sachs.

Goldman economist Manuel Abecasis stated in a report that available job openings in the United States have declined by a large margin without a boost to the official unemployment rate.