就业企稳信号！美国10月ADP新增就业4.2万人超预期，薪资增长持续停滞

Core Insights - The U.S. job market shows signs of stabilization after two months of decline, but overall labor demand continues to slow, and wage growth remains stagnant, adding uncertainty to the Federal Reserve's decision on potential rate cuts in December [1][6]. Employment Data - In October, ADP reported an increase of 42,000 jobs, significantly surpassing the expected 30,000 and reversing the previous month's revised loss of 32,000 jobs [1][4]. - The job growth in October reflects a cautious hiring trend among businesses, with 32,000 jobs added in the service sector and 9,000 in the goods-producing sector [4][6]. Wage Growth - Wage growth has remained stable over the past year, indicating a new balance in the labor market supply and demand, alleviating previous post-pandemic tensions [6]. Corporate Layoffs - Major companies like Amazon, Starbucks, and Target have announced significant layoffs, raising concerns about the employment outlook despite initial claims for unemployment benefits remaining low [3][6]. Federal Reserve Policy - Following two consecutive rate cuts, Fed Chair Jerome Powell noted a very slow cooling of the labor market, indicating uncertainty regarding further rate cuts in December [6]. - The moderate employment data provides mixed signals for the Fed, as it alleviates fears of rapid deterioration while highlighting the need for careful consideration of economic trends due to slowing demand and stagnant wage growth [6].