Core Viewpoint - The article discusses the contrasting perspectives on the U.S. employment data for January 2026, questioning whether the economy is experiencing a "strong recovery" or a "weak balance" [2] Group 1: Employment Data Analysis - The U.S. added 300,000 jobs in January 2026, indicating a robust labor market [2] - The unemployment rate remained stable at 4.0%, suggesting that the job market is not overheating [2] - Wage growth was reported at 3.5% year-over-year, reflecting moderate inflationary pressures [2] Group 2: Economic Implications - The strong job growth may lead to increased consumer spending, potentially boosting GDP growth [2] - However, the stable unemployment rate raises concerns about the sustainability of this growth, indicating a possible "weak balance" scenario [2] - Analysts suggest that the Federal Reserve may need to adjust interest rates in response to these mixed signals from the labor market [2]
数据点评 | “强复苏”还是“弱平衡”？——2026年1月美国就业数据点评（申万宏观·赵伟团队）
申万宏源证券上海北京西路营业部·2026-02-13 02:46