美国就业数据爆冷，美联储降息倒计时开始？

Group 1 - The core point of the article highlights a significant decline in U.S. employment data for May, with only 37,000 new jobs added in the private sector, far below the expected 114,000 and previous month's 62,000 [1][3] - The ADP report indicates a loss of momentum in hiring, with employers adopting a cautious approach to recruitment and wage increases [1][3] - Economic uncertainty, including slowing growth and unresolved inflation issues, is causing businesses to hesitate in hiring and expanding investments [3][5] Group 2 - Certain sectors, such as leisure and hospitality, and financial activities, show slight growth, but overall hiring trends in education, healthcare, business services, manufacturing, and transportation are stagnant or declining [5] - Wage growth is stagnating, with employees who switch jobs seeing a 7% increase in salary, while those who remain in their positions only see a 4.5% increase, indicating a trend where loyalty may not be rewarded [5][7] - The market is anxiously awaiting the upcoming non-farm payroll data, as poor results could pressure the Federal Reserve to consider interest rate cuts [5][7] Group 3 - The article raises questions about the effectiveness of potential interest rate cuts in stimulating economic growth, especially if companies are already cutting back on spending [7] - The current economic environment is characterized by fragility and uncertainty, necessitating careful management by the Federal Reserve [7] - The employment data reflects broader economic concerns, with implications for consumer finances, employment, mortgage rates, and retirement benefits [7]