Trump’s war in Iran is costing the U.S. economy 10,000 jobs a month, Goldman Sachs says

The U.S. military conflict with Iran is quietly draining the American labor market, with Goldman Sachs estimating that the oil price shock triggered by the war will suppress payroll growth by roughly 10,000 jobs per month through the end of the year — a toll that will be felt most acutely in restaurants, hotels, and retail stores across the country.

In a research note published Thursday, Goldman economist Pierfrancesco Mei laid out a detailed framework for how higher energy prices translate into labor market pain ...