Goldman Sachs predicted the economy will lose as many as 100,000 jobs in February due to blizzard-like conditions that kept employers and prospective hires from getting to the office.
That could bump the 9.7 percent unemployment rate closer to 10, dealing a blow to Democrats hoping for a steady economic recovery in the months leading up to November’s midterm elections.
Economic officials on Monday were already spinning expectations for the report, saying it would be important to look past February’s figures to the “underlying trends,” according to White House economic adviser Larry Summers.
“The blizzards that affected much of the country during the last month are likely to distort the statistics,” Summers told CNBC.
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