美国经济：就业市场仍然稳健，联储将继续暂停降息

Employment Data - In February, the U.S. added 151,000 non-farm jobs, slightly below the market expectation of 160,000[1] - Private sector employment rebounded significantly, increasing from 81,000 in January to 140,000 in February[1] - The unemployment rate rose by 0.1 percentage points to 4.1%, with a notable increase in the broader U6 unemployment rate[1] Wage Growth and Inflation - Average hourly earnings growth decreased from 0.48% in January to 0.28% in February, aligning with market expectations[1] - Year-on-year wage growth fell to 4.02%, indicating a trend of moderate wage growth slowdown[1] Federal Reserve Policy Outlook - The Federal Reserve is expected to maintain a neutral policy stance in the short term, with potential pauses in rate cuts during March, May, and June[1] - There is an increased likelihood of a rate cut in September or December, contingent on economic slowdown due to Trump's policies[1] Labor Market Dynamics - The labor force participation rate decreased from 62.6% to 62.4%, with participation among those aged 55 and older dropping to a historical low of 38.1%[1] - The broader U6 unemployment rate rose from 7.5% to 8%, primarily due to an increase in part-time employment[1]