睿智投资|美国经济 - 就业依然稳健,支持短期暂停降息

Employment Data - January non-farm payrolls increased by 143,000, below the market expectation of 175,000[1] - The total non-farm employment data for November and December was revised upward by 100,000 to 261,000 and 307,000 respectively[2] - Private sector job growth slowed from 273,000 in December to 111,000 in January[2] Wage Growth - Average hourly earnings increased by 0.48% month-on-month, significantly above the expected 0.33%[2] - Year-on-year wage growth slightly rose from 4.05% to 4.06%[2] Unemployment Rate - The unemployment rate decreased by 0.1% to 4.0% in January[3] - Labor force participation rate increased from 62.5% to 62.6%[3] Labor Market Adjustments - Total labor force population was revised upward by 2.1 million, primarily due to foreign-born workers[3] - The three-month moving average of non-farm payrolls rose from 82,000 in August to 237,000 in January[3] Federal Reserve Outlook - The strong employment data supports the Federal Reserve's decision to pause interest rate cuts in March and May[4] - Further rate cuts of 25 basis points may occur in June and September due to tightening effects from rising real rates and a stronger dollar[4]