US Private Employment Rises By 122,000 In July, Misses Estimates: 'If Inflation Goes Back Up, It Won't Be Because Of Labor'
US Private Employment Rises By 122,000 In July, Misses Estimates: 'If Inflation Goes Back Up, It Won't Be Because Of Labor'
The rate of job creation in the U.S. private sector fell short of expectations in July, indicating a cooling in labor market conditions.
7月美國私營部門就業增長率未達預期，表明勞動力市場情況正在降溫。
Private employers in the U.S. added 122,000 jobs in the past month, the lowest since January 2024 and down from the upwardly revised 155,000 jobs in June, the ADP National Employment Report shows.
美國私人僱主上月增加12.2萬個工作崗位， ADP國家就業報告顯示，這是自2024年1月以來的最低水平，低於6月修正後的155,000個工作崗位。
The reading also marks the fourth consecutive month of declining growth in U.S. private employment and missed the projected 150,000 jobs, according to consensus estimates from TradingEconomics.
據TradingEconomics的共識預測，這一數據還標誌着美國私人就業增長連續第四個月下降，未能達到預期的15萬個崗位。
The ADP's private employment snapshot, based on payroll data from over 500,000 companies and more than 25 million employees, provides a preview of the official jobs report expected this Friday. Economists predict that total nonfarm payrolls, including government jobs, will decrease from 206,000 in June to 175,000 in July. The unemployment rate is expected to remain steady at 4.1%, and average hourly earnings are anticipated to maintain a 0.3% monthly increase.
ADP的私人就業快照基於來自50萬多家公司和2500萬名員工的工資單數據，提供了對預計於本週五公佈的官方就業報告的預覽。經濟學家預計，包括政府工作的全部非農就業人員將從6月的206,000人減少到7月的175,000人。失業率預計將保持在4.1％，平均小時收入預計將保持每月增長0.3％。
July ADP National Employment Report: Key Highlights
7月ADP國家就業報告：主要亮點
- Services-providing companies added 85,000 jobs, while goods producers added 37,000.
- Industries experiencing increases in employment were trade, transportation, and utilities (61,000), construction (39,000), leisure and hospitality (24,000), financial activities (14,000).
- Industries witnessing the sharpest job contractions were professional/business services (down by 37,000), information (down by 18,000) and manufacturing (down by 4,000).
- Year-over-year pay increases for job-stayers were 4.8% in July, down from 4.9% in June and marking the slowest pace in three years. Pay gains for those who switched jobs also fell, down from 7.7% to 7.2%.
- "With wage growth abating, the labor market is playing along with the Federal Reserve's effort to slow inflation. If inflation goes back up, it won't be because of labor." Nela Richardson, chief economist at ADP, said.
- 服務提供型公司新增了85000個工作崗位，而製造商新增了37000個工作崗位。
- 經濟增長的行業包括貿易、運輸和公用事業（61,000），建築業（39,000），休閒和酒店業（24,000），金融活動（14,000）。
- 目睹就業崗位大幅減少的行業是專業/商業服務（降低3.7萬）、信息行業（降低1.8萬）和製造業（降低4,000）。
- 7月工作留用者的年度加薪增長率爲4.8％，低於6月的4.9％，是三年來最緩慢的。轉換工作的人的工資增長也下降，從7.7％下降到7.2％。
- ADP首席經濟學家Nela Richardson表示：“隨着工資增長的減緩，勞動力市場正在配合聯儲局的通脹放緩，如果通脹再次上升，那不會是由於勞動力市場。”
Market Reactions
市場反應
- The U.S. Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), fell 0.4%.
- Treasury yields softened slightly, with the 10-year Treasury note trading at 4.13%.
- Gold, as tracked by the SPDR Gold Trust (NYSE:GLD), rose 0.4%.
- Futures on U.S. equity indices traded higher in the premarket on Wednesday, following the negative close seen Tuesday.
- Among notable premarket movers, shares of Microsoft Corp. (NYSE:MSFT) traded 3% lower as growth in the business cloud softened, despite the tech giant reported stronger-than-expected earnings. Advanced Micro Devices Inc. (NASDAQ:AMD) rallied over 7%.
- 由Invesco Db USD Index Bullish Fund ETF (紐交所：UUP)跟蹤的美元指數（DXY）下跌0.4%。
- 國債收益率略有回落，10年期國債收益率交易爲4.13％。
- SPDR Gold Trust (紐交所：GLD)跟蹤的黃金上漲了0.4％。
- 週三市前美國股指期貨交易高位，繼週二下跌後。
- 在值得關注的市前活動中，微軟公司 (紐交所：MSFT) 的股票下跌了3％，儘管這家科技巨頭報告的盈利高於預期，但業務雲的增長放緩。美國超微公司 (納斯達克：AMD) 上漲超過7％。
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Photo: Shutterstock
Photo: shutterstock
譯文內容由第三人軟體翻譯。