The U.S. Energy Information Administration provides an outlook on oil and gas prices from 2020 to 2050. It predicts crude oil prices will average $43 per barrel in the fourth quarter of 2020, and $49 per barrel in 2021 for Brent international. On the other hand, manufacturing and retail industries will proceed shedding jobs, whereas e-commerce continues to grow. That similar shift could increase jobs in transportation and warehousing. Other declines will occur in the postal service, agriculture, and some data-associated industries. The BLS 2019 through 2029 projections do not include impacts of the coronavirus pandemic and response efforts, because the historical data was finalized in spring 2020. The FOMC estimates that the unemployment rate will be 6.7{be58ab02b5dee2faacfb6cf0f54a1d6a0fb25b33837c08d8a7a1921451b91f82} for the 12 months of 2020.
In the IMF’s estimation, the worldwide rebound will steadily lose momentum and return to pre-COVID ranges of just above 3{be58ab02b5dee2faacfb6cf0f54a1d6a0fb25b33837c08d8a7a1921451b91f82} growth. Countries will again encounter the obstacles they faced earlier than the pandemic, including growing older work forces in most rich international locations and in China. The rebound is expected to be slower in poor nations that may’t afford huge authorities stimulus and in these depending on tourism.
