2026-08-07T08:43:00-0400 / 哥伦比亚广播公司（CBS）新闻
报道者
更新时间：2026年8月7日 / 美国东部时间上午10:45 / 哥伦比亚广播公司（CBS）新闻
美国经济7月意外减少2.3万个就业岗位，未达到经济学家的预期，这表明就业市场可能正在放缓。
关键数据
接受FactSet调查的经济学家此前预测，7月雇主将新增9.5万个就业岗位。
7月失业率为4.1%，低于6月的4.2%。失业率下降主要反映出劳动力增长放缓，进入或留在劳动力市场的人数减少。
“失业率降至4.1%，在很大程度上是因为劳动力增长停滞，而非就业机会在扩大，”无党派智库世纪基金会的政策项目主管安吉拉·汉克斯说道。
美国劳工部还将5月和6月的就业数据下修了总计10.3万个岗位，这表明招聘情况比此前报告的更为疲软。
“招聘已经出现逆转——上月美国经济实际出现了岗位流失，而且事实证明，我们此前认为前几个月存在的许多岗位实际上从未真正存在过，”市场专家、前高盛分析师尼克·普克兰在一封邮件中说道。
劳动力参与率——即正在工作或积极求职的人口占比——也再次下滑，7月降至61.4%，为2021年2月以来的最低水平。
地方政府教育行业和零售业的岗位流失拖累了上月的就业数据，这两个行业分别减少了5万个和1.9万个岗位。医疗保健行业作为今年美国经济薪资增长的主要推动力，新增了2.2万个岗位。
专家观点
招聘整体仍比疫情后几年更为低迷，当时美国经济经历了就业反弹。领英（LinkedIn）美洲地区经济主管科里·坎滕加将就业市场描述为“疲软”，对年轻人而言尤其如此。
“就业市场活跃度不高。失业率保持稳定，但多年来我们都没有看到招聘出现实质性回升，”他在周五就业报告发布前对哥伦比亚广播公司（CBS）新闻表示。
领英7月的数据显示，招聘和职位发布量与6月基本持平。与此同时，以每位求职者的申请数量衡量的求职强度有所上升，这表明在有限的岗位数量中，竞争正在加剧。
尽管招聘停滞不前，但近期裁员人数达到两年来的最低水平，这进一步印证了经济学家用来形容就业市场的“低裁员、低招聘”标签。
周四发布的另一项数据显示，每周失业救济申请人数仍处于历史低位。据PNC经济研究所的数据，截至8月1日的一周，首次申请失业救济人数的四周平均值降至20万以下，这是自2022年10月以来首次跌破这一阈值。
“尽管招聘率很低，但失业率仍保持稳定，因为裁员人数也很少，”美联储理事丽莎·库克周三在安克雷奇经济发展公司的活动中说道。
有工作的美国人也面临着自身的一系列挑战。哥伦比亚广播公司（CBS）新闻对人口普查数据的最新分析发现，尽管典型美国人的工资自2019年以来稳步增长，但这些涨幅在很大程度上被快速上涨的消费品价格抵消了。
这对美联储意味着什么？
摩根士丹利财富管理公司首席经济策略师艾伦·曾特纳在邮件中表示，7月的意外岗位流失可能会缓解美联储在9月15日至16日下次会议上加息的压力。她表示，下周发布的通胀数据将是“决定性因素”。
“如果通胀数据比预期更高，哪怕就业市场有所降温，可能也不足以平息美联储内部要求加息的呼声，或是降低外界的加息预期，”曾特纳说道。
美联储已经连续五次会议维持利率不变。不过，一些美联储官员暗示，他们可能会加息以抑制通胀，目前通胀仍远高于央行2%的目标利率。在7月最近一次美联储会议上，三名联邦公开市场委员会成员投票支持加息，九名成员投票维持利率不变。
本文由艾梅·皮奇编辑
July jobs report reveals unexpected loss of 23,000 jobs, missing economists’ forecasts
2026-08-07T08:43:00-0400 / CBS News
By
Updated on: August 7, 2026 / 10:45 AM EDT / CBS News
The U.S. economy unexpectedly shed 23,000 jobs in July, undershooting economists’ expectations and signaling the job market may be slowing.
By the numbers
Economists polled by FactSet forecast employers added 95,000 jobs in July.
The unemployment rate in July stood at 4.1%, down from 4.2% in June. The decline largely reflects slower labor force growth, with fewer people entering or remaining in the workforce.
“The rate dropped to 4.1% in large part because labor force growth has stalled, not because opportunity is expanding,” Angela Hanks, chief of policy programs at the Century Foundation, a nonpartisan think tank.
The Labor Department also revised down the May and June jobs numbers by a combined 103,000, a sign hiring was weaker than previously reported.
“Hiring has gone into reverse — the economy actually shed jobs last month — and it turns out many of the jobs we thought were there in previous months never really existed,” Nic Puckrin, markets expert and former Goldman Sachs analyst, said in an email.
The labor force participation rate — the percentage of the population that is either working or actively looking for work — also fell again, reaching 61.4% in July, the lowest level since February 2021.
Losses across local government education and retail dragged down last month’s employment data, with the sectors losing 50,000 and 19,000 jobs, respectively. Healthcare, which has been the main driver this year for payroll gains in the U.S. economy, added 22,000 jobs.
What the experts say
Hiring remains generally more muted than in the post-pandemic years, when the U.S. economy experienced an employment rebound. Kory Kantenga, the head of economics, Americas, at LinkedIn, described the job market as “slow,” especially for young people.
“There’s not a lot of action. Unemployment is holding steady, but we haven’t seen hiring pick up meaningfully in years,” he told CBS News before the release of Friday’s jobs report.
July data from LinkedIn shows hiring and job postings remained essentially unchanged from June. At the same time, job-seeking intensity — measured by applications per applicant — increased, suggesting competition is increasing for a limited number of roles.
While hiring remains stagnant, layoffs recently hit their lowest level in two years, recent data shows, reinforcing the “low fire, low hire” label economists have used to characterize the labor market.
Separate data released Thursday shows weekly unemployment claims remain historically low. The four-week average of initial jobless claims dipped below 200,000 for the week ending Aug. 1, marking the first time it has fallen below that threshold since October 2022, according to PNC Economics.
“Although the hiring rate is low, the unemployment rate remains steady because layoffs are also low,” Fed Governor Lisa Cook said during an event at the Anchorage Economic Development Corporation on Wednesday.
Americans with jobs are facing their own set of challenges. A new CBS News analysis of Census data found that while the typical American’s wages have steadily increased since 2019, those gains have largely been offset by rapidly climbing consumer prices.
What does this mean for the Federal Reserve?
The unexpected job loss in July could ease pressure on the Federal Reserve to raise interest rates at its next meeting, which is scheduled for Sept. 15-16, Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management, said in an email. Inflation data expected next week will be the “deciding factor,” she said.
“If those numbers come in hotter than expected, a cooler labor market may not be enough to quiet the calls for hikes inside the Fed, or lower expectations outside of it,” Zentner said.
The central bank has held interest rates steady for five consecutive meetings. However, some Fed officials have signaled they are open to raising rates to tame inflation, which remains well above the central bank’s 2% target rate. At the most recent Fed meeting in July, three Federal Open Market Committee members voted to raise rates, while nine voted to hold rates steady.
Edited by Aimee Picchi
发表回复