2026年10月2日 / 美国东部时间上午10:52 / 哥伦比亚广播公司新闻
美国全国雇主9月新增就业岗位2.9万个，低于经济学家预期，这表明部分企业在能源价格飙升、通胀高企等逆风因素影响下暂缓招聘。
根据金融数据公司路孚特（FactSet）的数据，经济学家此前预计美国上月新增就业岗位9万个。9月失业率为4.2%，较上月的4.1%小幅上升。
7月和8月招聘数据下调
近期数据显示，劳动力市场自去年以来有所回暖，去年美国雇主平均每月仅新增1万个就业岗位。但9月的就业报告表明，在8月强劲的就业报告以及美联储三年来首次加息之后，招聘势头可能正在放缓。
“美联储2023年以来首次加息后，9月非农就业仅增加2.9万个岗位，这让人质疑劳动力市场的韧性，”美国互惠保险公司经济与固定收益研究副总裁杰里·坦普尔曼在一封邮件中表示。
专家指出，各行业招聘均表现疲软，就连今年就业增长的亮点医疗保健行业也仅新增1.7万个岗位。与此同时，金融服务企业上月裁员7000人。
“只有医疗保健和建筑业在招聘，而且力度很弱，”海军联邦信贷联盟首席经济学家希瑟·朗说道。美国人目前对就业机会匮乏感到不满。“全美民众都不看好当前的劳动力市场，原因显而易见：招聘活动依然寥寥无几。”
美国劳工部周五还将7月和8月的就业增长数据合计下调了6万人。金融服务公司TruStage首席经济学家史蒂夫·里克在邮件中表示，此次下调让8月的“反弹显得更为客观”。“单月数据不代表趋势，月度就业数据波动往往很大。更重要的是，三个月的趋势是否表明劳动力市场在逐渐降温，而非急剧下滑。”
经济学家们正密切关注劳动力市场活力的其他衡量指标，比如已经连续五个月跑输通胀的工资增长。9月，工资按年增长率为3%，低于8月3.4%的消费者物价指数增幅。9月的消费者物价指数数据将于10月14日发布。
朗表示，9月的工资增长率“是2021年5月以来的最低水平”。“自3月以来，通胀已经吞噬了所有工资涨幅，这对民众来说是实实在在的财务压力。”
就业安置公司Challenger, Gray & Christmas周四发布的数据显示，2026年裁员人数大幅下降。截至9月，裁员人数较去年同期下降40%。按月计算，裁员人数较2025年9月下降20%，为四年来最低水平。
这对利率意味着什么
美国失业率上升“值得密切关注”，坦普尔曼表示。失业率上升叠加招聘疲软，可能意味着美联储进一步加息将制约经济活动，他补充道。
马奥尼资产管理公司首席执行官肯·马奥尼在邮件中表示，9月就业数据弱于预期，可能会导致美联储在10月的会议上暂缓进一步降息。
“对美联储来说，这些数据不支持10月加息，”他说。“加息的依据只能是通胀数据，而非劳动力市场——就业仅增加2.9万个，远低于9万个的预期，且前两个月的数据还被下调了6万。”
经济学家表示，劳动力市场稳定为美联储在未来几个月加息提供了更多空间。美联储的目标是将通胀率降至年度2%的目标，上月该行三年多来首次上调基准利率。
8月，美国通胀按年率计算上涨3.4%，能源价格飙升推高了消费者物价。
本文由阿兰·谢特编辑
Employers across the U.S. added 29,000 jobs in September, short of forecasts
October 2, 2026 / 10:52 AM EDT / CBS News
Employers across the U.S. added 29,000 jobs in September, below economists’ forecasts and signaling that some businesses are holding off on hiring amid headwinds such as surging energy prices and higher inflation.
Economists had forecast the economy would add 90,000 new jobs last month, according to financial data firm FactSet. The unemployment rate stood at 4.2% in September, up slightly from 4.1% in the prior month.
Cooler hiring in July and August
Recent data suggest the labor market has picked up since last year, when employers added an average of just 10,000 new jobs per month. But the September report suggests that hiring may be flagging after August’s strong employment report and the Federal Reserve’s first interest rate hike in three years.
“September’s nonfarm payroll gain of just 29,000 jobs raises questions about the durability of the labor market after the Federal Reserve’s first interest rate increase since 2023,” Jerry Tempelman, vice president of economic and fixed income research at Mutual of America, said in an email.
Hiring was muted across industries, with even healthcare, this year’s bright spot in job growth, adding just 17,000 new hires, experts noted. Financial services firms, meanwhile, shed 7,000 jobs last month.
“Only healthcare and construction were hiring, and it was weak,” said Heather Long, chief economist at Navy Federal Credit Union. Americans are frustrated by the lack of opportunities right now. “Across America, people don’t like this labor market. It’s not hard to see why. There’s still not much hiring going on.”
The Labor Department on Friday also revised down the payroll gains for July and August by a combined 60,000. The downward revisions put August’s “rebound into perspective,” said Steve Rick, chief economist at financial services firm TruStage, in an email. “One month doesn’t make a trend, and monthly payroll numbers can bounce around quite a bit. What matters more is whether the three-month trend continues to show a labor market that is gradually cooling rather than falling off a cliff.”
Economists are closely watching other measures of labor market strength, such as wage growth, which has lagged inflation for five consecutive months. In September, wages rose at an annual rate of 3%, below the August Consumer Price Index reading of 3.4%. The September CPI data will be released on Oct. 14.
September’s wage growth is “the lowest since May 2021,” Long said. “Inflation has wiped out wage gains since March. That’s a real financial squeeze.”
Data released Thursday by outplacement firm Challenger, Gray & Christmas shows that job cuts have fallen sharply in 2026. Layoffs through September have declined 40% from the same period a year earlier, its report found. On a monthly basis, layoffs dropped 20% compared with September 2025, marking the lowest level in four years.
What it means for interest rates
The increase in the nation’s unemployment rate “warrants close attention,” Tempelman said. Rising joblessness combined with softer hiring could signal that additional Fed interest rate hikes could constrain economic activity, he added.
The weaker-than-expected September jobs data could cause the Federal Reserve to hold off on an additional rate cut at its October meeting, said Ken Mahoney, CEO of Mahoney Asset Management, in an email.
“For the Fed, these numbers do not make a case for a rate increase in October,” he said. “A hike would have to come from the inflation data, not from a labor market that produced 29,000 jobs against a 90,000 estimate and then subtracted 60,000 from the prior two months.”
A stable labor market gives the Federal Reserve more room to raise interest rates in the coming months, according to economists. The central bank is focused on driving inflation down to its 2% annual target and last month raised its benchmark interest rate for the first time in more than three years.
In August, U.S. inflation rose at an annual rate of 3.4%, as soaring energy costs pushed up consumer prices.
Edited by Alain Sherter
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