<p>（更新包含各项报告）</p><p>作者：Lucia Mutikani</p><p>华盛顿，12 月 16 日（路透社）——由于政府支出削减导致 10 月份非农就业人数下降，美国 11 月份的就业增长反弹，但失业率为 4.6%，在经济不确定性背景下，劳动市场正在减弱，这种不确定性源于特朗普总统的激进贸易政策。</p><p>劳工部劳动统计局周二发布的 11 月份延迟就业报告和 10 月份的部分更新未包含 10 月份的失业率和其他指标，因为政府关闭 43 天阻碍了家庭数据的收集。</p><p>劳动统计局表示，上个月非农就业人数增加了 64,000 个职位。经济在 10 月份减少了 105,000 个职位，反映出超过 150,000 名联邦员工因特朗普政府推动缩减政府规模而选择了延期离职。大多数人在 9 月底时已从政府工资单上退出。</p><p>在历史上最长的政府关闭期间，工资单并未受到影响，因为在政府重新开放时，员工得到了追溯支付。</p><p>9 月份的失业率为 4.4%。由于 10 月份没有收集到数据，劳动统计局对劳动参与率的估计进行了权重调整。</p><p>在就业报告发布之前，劳动统计局表示，11 月份的劳动参与率估计 “将比通常情况略有更高的方差”，并补充说 “12 月份的估计不需要进行权重调整，将恢复到通常的复合权重方法。”</p><p>它还表示，11 月份参与家庭调查的新家庭数量将是典型月份的两倍，而其他家庭将在注册期间中途休息后返回。一些经济学家警告说，这可能导致 11 月份失业率的上升偏差。</p><p>家庭对劳动市场的看法在 11 月份恶化。</p><p>经济学家表示，由于一些人所称的特朗普大规模进口关税带来的冲击，雇主已减少招聘。进口关税提高了许多商品的价格，导致消费者，主要是低收入和中等收入家庭，在购买时更加挑剔，最终减少了支出。</p><p>美联储官员上周将美国中央银行的基准隔夜利率再次下调 25 个基点至 3.5%-3.75% 的区间。然而，他们表示，借贷成本在短期内不太可能进一步下降，因为他们在等待劳动市场和通胀方向的明确信号。</p><p>美联储主席杰罗姆·鲍威尔告诉记者，劳动市场 “似乎面临显著的下行风险”，暗指 9 月份的初步基准修订估计显示，截至 3 月份的 12 个月内创造的就业人数比之前报告的少 911,000 个，相当于每月少 76,000 个职位。</p><p>劳动统计局将在 2 月份发布最终的工资单基准修订以及 1 月份的就业报告。</p>

<p>美国 11 月份的就业增长反弹，非农就业人数增加了 64,000 个职位，尽管之前因政府支出削减而出现下降。失业率为 4.6%，反映出特朗普总统贸易政策带来的经济不确定性。联邦储备委员会降低了利率，但表示近期不会进一步降息。经济学家警告，由于进口关税，招聘可能会减少，从而影响消费者支出。美国劳工统计局指出，由于政府停摆期间的数据收集问题，劳动力估计发生了变化</p>

<p>(Updates with reports throughout)</p>
<div class="lb-trans"><p>（更新包含各项报告）</p>
</div><p>By Lucia Mutikani</p>
<div class="lb-trans"><p>作者：Lucia Mutikani</p>
</div><p>WASHINGTON, Dec 16 (Reuters) - U.S. job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts, but the unemployment rate was at 4.6% as the labor market weakens against the backdrop of economic uncertainty stemming from President Donald Trump’s aggressive trade policy.</p>
<div class="lb-trans"><p>华盛顿，12 月 16 日（路透社）——由于政府支出削减导致 10 月份非农就业人数下降，美国 11 月份的就业增长反弹，但失业率为 4.6%，在经济不确定性背景下，劳动市场正在减弱，这种不确定性源于特朗普总统的激进贸易政策。</p>
</div><p>The delayed employment report for November and a partial update for October published by the Labor Department’s Bureau of Labor Statistics on Tuesday did not include the unemployment rate and other metrics for October after the 43-day shutdown of the government prevented the collection of data from households.</p>
<div class="lb-trans"><p>劳工部劳动统计局周二发布的 11 月份延迟就业报告和 10 月份的部分更新未包含 10 月份的失业率和其他指标，因为政府关闭 43 天阻碍了家庭数据的收集。</p>
</div><p>Nonfarm payrolls increased by 64,000 jobs last month, the BLS said. The economy shed 105,000 jobs in October, reflecting the departure of more than 150,000 federal employees who took deferred buyouts as part of the Trump administration’s push to shrink the government’s footprint. Most of them dropped off government payrolls at the end of September.</p>
<div class="lb-trans"><p>劳动统计局表示，上个月非农就业人数增加了 64,000 个职位。经济在 10 月份减少了 105,000 个职位，反映出超过 150,000 名联邦员工因特朗普政府推动缩减政府规模而选择了延期离职。大多数人在 9 月底时已从政府工资单上退出。</p>
</div><p>Payrolls were not impacted by the furloughing of workers during the longest shutdown in history as they were retroactively paid when the government reopened.</p>
<div class="lb-trans"><p>在历史上最长的政府关闭期间，工资单并未受到影响，因为在政府重新开放时，员工得到了追溯支付。</p>
</div><p>The unemployment rate was at 4.4% in September. The BLS made changes to weights for labor force estimates because no data was collected in October.</p>
<div class="lb-trans"><p>9 月份的失业率为 4.4%。由于 10 月份没有收集到数据，劳动统计局对劳动参与率的估计进行了权重调整。</p>
</div><p>Ahead of the employment report, the BLS said November labor force estimates “will have slightly higher variances than usual,” adding the weighting change “will not be needed for the December estimates, which will return to the usual composite weighting methodology.”</p>
<div class="lb-trans"><p>在就业报告发布之前，劳动统计局表示，11 月份的劳动参与率估计 “将比通常情况略有更高的方差”，并补充说 “12 月份的估计不需要进行权重调整，将恢复到通常的复合权重方法。”</p>
</div><p>It also said twice as many new households would be participating in the household survey in November than in a typical month, while others would be returning after taking a break in the middle of their enrollment period. Some economists warned this could cause an upward bias in the unemployment rate in November.</p>
<div class="lb-trans"><p>它还表示，11 月份参与家庭调查的新家庭数量将是典型月份的两倍，而其他家庭将在注册期间中途休息后返回。一些经济学家警告说，这可能导致 11 月份失业率的上升偏差。</p>
</div><p>HOUSEHOLDS ARE DOWNBEAT ON THE LABOR MARKET Households’ perceptions of the labor market deteriorated in November.</p>
<div class="lb-trans"><p>家庭对劳动市场的看法在 11 月份恶化。</p>
</div><p>Economists say employers have pulled back from hiring because of what some described as a shock from Trump’s sweeping import tariffs. The import duties have raised prices for many goods, resulting in consumers, mostly lower- and middle-income households, being more selective in their purchases and ultimately cutting back on spending.</p>
<div class="lb-trans"><p>经济学家表示，由于一些人所称的特朗普大规模进口关税带来的冲击，雇主已减少招聘。进口关税提高了许多商品的价格，导致消费者，主要是低收入和中等收入家庭，在购买时更加挑剔，最终减少了支出。</p>
</div><p>Federal Reserve officials last week cut the U.S. central bank’s benchmark overnight interest rate by another 25 basis points to the 3.5% - 3.75% range. However, they signaled borrowing costs were unlikely to fall further in the near term as they awaited clarity on the direction of the labor market and inflation.</p>
<div class="lb-trans"><p>美联储官员上周将美国中央银行的基准隔夜利率再次下调 25 个基点至 3.5%-3.75% 的区间。然而，他们表示，借贷成本在短期内不太可能进一步下降，因为他们在等待劳动市场和通胀方向的明确信号。</p>
</div><p>Fed Chair Jerome Powell told reporters the labor market “seems to have significant downside risks,” alluding to a preliminary benchmark revision estimate in September that suggested 911,000 fewer jobs were created in the 12 months through March than previously reported, the equivalent of 76,000 fewer jobs per month.</p>
<div class="lb-trans"><p>美联储主席杰罗姆·鲍威尔告诉记者，劳动市场 “似乎面临显著的下行风险”，暗指 9 月份的初步基准修订估计显示，截至 3 月份的 12 个月内创造的就业人数比之前报告的少 911,000 个，相当于每月少 76,000 个职位。</p>
</div><p>The BLS will publish the final payrolls benchmark revision in February along with January’s employment report.</p>
<div class="lb-trans"><p>劳动统计局将在 2 月份发布最终的工资单基准修订以及 1 月份的就业报告。</p>
</div>

WRAPUP 2-US job growth beats expectations in November; unemployment rate at 4.6%

- 美国 11 月新增就业岗位 64,000，10 月非农就业减少 105,000。  
- 失业率为 4.6%，受特朗普贸易政策影响，劳动市场减弱。  
- 美联储下调利率至 3.5%-3.75%，预计短期内借贷成本不会进一步下降。

美国 11 月的就业增长超出预期，失业率维持在 4.6%