ADP数据显示，美国招聘放缓至两年来最慢速度 6月4日消息，美国招聘速度降至两年来的最低点，商业服务、教育与医疗等行业出现裁员，显示出对劳 动力需求的减弱。 根据ADP研究机构的数据，5月份美国私营部门的就业增长几乎陷入停滞，新增就业岗位仅为3.7万个， 为两年多以来的最低水平，显示出劳动力市场疲软的迹象。 这一数据低于4月份经下修后的6万个，也远低于道琼斯预期的11万个，为自2023年3月以来ADP统计的 最低月度就业增幅。 该报告发布的时间距离美国劳工统计局发布的更受关注的非农就业数据仅两天。市场预期非农就业将增 加12.5万个，失业率维持在4.2%。 尽管ADP与非农就业报告经常存在差异，有时甚至差距较大，但ADP数据仍为当前整体经济形势下的就 业状况提供了一个重要视角。 ADP首席经济学家内拉·理查森表示："在年初表现强劲之后，就业增长正在失去动力。" 5月份，商品生产类行业净减少了2000个岗位。其中，自然资源与采矿业减少5000个，制造业减少3000 个，仅建筑业增加6000个。 服务业方面，休闲与酒店业（+3.8万个）以及金融活动（+2万个）表现出一定的增长。但专业与商业服 务减少1.7万个，教 ...

Core Viewpoint - The expansion of service consumption is essential for driving economic growth and improving people's livelihoods, emphasizing the need for a balanced approach that integrates current and long-term goals, as well as supply and demand considerations [1][10]. Group 1: Importance of Service Consumption - Service consumption connects the economy and people's livelihoods, covering various sectors such as dining, accommodation, and healthcare, and is crucial for enhancing living standards and optimizing consumption structure [2][3]. - As China's GDP per capita exceeds $13,000, service consumption is rapidly growing, with a significant increase in residents' willingness to spend on services that meet their spiritual needs [2][7]. - In Q1 2024, service consumption accounted for 43.4% of total household consumption, reflecting its growing importance and potential [2][7]. Group 2: Economic and Employment Impact - Service consumption promotes economic quality improvement and supports multiple industries, creating a virtuous cycle of demand and supply [3][4]. - The service sector is the largest employment reservoir, with 48.1% of jobs in 2023, significantly higher than primary and secondary industries, thus broadening employment opportunities [4][9]. Group 3: Policy and Market Expansion - The National Development and Reform Commission has implemented policies to stimulate service consumption, focusing on innovation and digital transformation to meet consumer needs [6][10]. - By 2024, the service consumption market is projected to grow significantly, with per capita service spending increasing from 5,246 yuan in 2013 to 13,000 yuan in 2024, marking a 148% growth [7][8]. Group 4: Future Trends and Challenges - The demand for high-quality, diverse services in education, healthcare, and cultural tourism is rapidly increasing, with significant potential in sectors like elderly care and home services [8][9]. - Despite the positive trends, challenges such as insufficient quality service supply and a less favorable consumption environment remain, necessitating further efforts to enhance service quality and market openness [10][12].

Group 1 - The core viewpoint of the articles highlights the resilience of the U.S. labor market despite aggressive interest rate hikes by the Federal Reserve post-pandemic, characterized by a steepening of the Phillips and Beveridge curves [1][2][4][5]. - The U.S. labor market has shown robust growth with unemployment rates remaining historically low, even as the Federal Reserve raised interest rates from 0-0.25% to 5.25%-5.5% over a span of 11 hikes [3][4]. - The average monthly non-farm employment from March 2022 to March 2025 is 230,400, significantly higher than the pre-pandemic average of 178,000 [3]. Group 2 - The Phillips curve has become more vertical, indicating that despite a drop in inflation from 7.0% to 2.1%, the unemployment rate only increased from 3.6% to 4.1%, demonstrating the labor market's resilience [4]. - The Beveridge curve has steepened, showing that even with a decrease in job vacancy rates from 7.4% to 4.4%, the unemployment rate only rose slightly, further indicating labor market strength [5]. - The labor market is characterized by a significant "demand exceeding supply" situation, with a labor shortage exacerbated by slow recovery in labor supply post-pandemic [6]. Group 3 - Strong public and private investments, driven by the Biden administration's "Invest in America" agenda, have significantly boosted labor demand, with total spending around $1.2 trillion since late 2021 [7]. - Private sector investments have exceeded $1 trillion, particularly in manufacturing and non-residential construction, contributing to job growth despite high interest rates [7][8]. - The accumulation of "excess savings" and rising asset prices have supported consumer spending, which in turn has driven labor demand, creating a positive feedback loop in the economy [12][13]. Group 4 - The influx of low-cost immigrant labor has made the labor market both "scarce and relatively cheap," which has stimulated demand and mitigated the impact of high interest rates on business costs [14][15]. - The labor market's dynamics can explain the verticalization of the Phillips curve and the steepening of the Beveridge curve, as high demand persists even with rising interest rates [16]. - The neutral interest rate has risen post-pandemic, leading to an underestimation of the restrictive nature of the Federal Reserve's policy rates, which has contributed to the labor market's resilience [17][18]. Group 5 - In the short term, the labor market is expected to remain stable, with a gradual decrease in hiring rates but low levels of layoffs, indicating a balanced supply-demand situation [20][21]. - In the medium to long term, uncertainties stemming from potential policy changes under the Trump administration could impact the labor market, particularly regarding tariffs and federal spending cuts [22].

复星医药 20250529 摘要 2024 年复星医药制药业务收入达 289.24 亿元，同比增长 54.83%， 分部业绩 33.04 亿元，同比增长 54.83%，分部利润 32.50 亿元，同比 增长 65.73%，制药板块研发投入 49.10 亿元，占收入的 16.98%，其 中研发费用 30 亿，占收入的 10%，是核心增长引擎。 2024 年医疗健康服务业务收入 76 亿，同比增长 14%；分部业绩 0 亿 同比增加 2 亿；分部利润亏损 3 亿同比减少亏损 1 亿。公司发力重点专 科建设、智慧医疗与一体化运营，提升运营效率和服务能力。 2024 年经营性现金流 44.77 亿元，同比增长 31.13%。归母净利润 27.7 亿元，同比增长 16.08%，扣非后归母净利润 23.14 亿元，同比 增长 15.1%。通过资产剥离带来现金回流近 30 亿元。 2025 年 Q1 营收 94.20 亿元，同比下降，研发费用 7.37 亿元。经营性 现金流 10.56 亿元，同比增长 15.08%。归母净利润 7.65 亿元，同比 增长 25.42%，扣非后归母净利润 4.10 亿元，同比减少。 公司持续 ...

Core Viewpoint - The Chinese government is focusing on strengthening domestic circulation by enhancing consumption, promoting upgrades in bulk consumption, and stimulating service consumption potential, as indicated by a 5.1% year-on-year increase in social retail sales in April, reaching 37,174 billion yuan [1] Group 1: Consumption Trends - The growth in social retail sales reflects not only an increase in total volume but also significant improvements in structure and quality, driven by rising income levels and changing consumer preferences towards diversified and personalized demands [1] - In April, retail sales of sports and entertainment products surged by 23.3%, indicating a shift from basic needs to experience-oriented consumption [1] Group 2: Policy Impact - The "trade-in" policy has effectively stimulated consumption, with retail sales of communication equipment, home appliances, and furniture increasing by 19.9%, 38.8%, and 26.9% respectively in April [2] - Urban and rural retail sales both showed steady growth, with urban retail sales increasing by 5.2% year-on-year in April, supported by improved infrastructure and public services in rural areas [2] Group 3: Challenges and Future Outlook - Despite overall stable growth, the consumption market faces challenges such as the impact of real estate market adjustments and international economic uncertainties, necessitating further actions to boost domestic demand [3] - Future trends indicate a continued upgrade in consumption structure, with rapid growth in tourism, entertainment, and health services, alongside a rise in demand for green and low-carbon products [4] - The integration of online and offline retail models is expected to accelerate, enhancing shopping experiences through digital empowerment [4] - Emerging consumer groups, particularly younger consumers and the elderly, are anticipated to play significant roles in shaping the future consumption landscape [4]

2025年两会刚结束，国家卫健委便高调启动了"体重管理年"三年行动计划：全国将新设体重管理门诊，分区域推广科学减肥食谱，甚至还给外 卖平台下达了"少油少盐"的硬性指标。 国家卫健委主任雷海潮在记者会上用了整整7分钟，专门详细介绍体重管理行动，足见这一公共健康议题的分量。 原来，"管住嘴、迈开腿"早已不只是个人的自律口号，而是升级为一场全民参与的国家级健康保卫战。 ▍国家为什么喊你减肥？ 大家或许在社交媒体上看到过类似的"故事"： 深圳某科技园，28岁的程序员小李体检查出"中度脂肪肝"，HR悄悄把他从海外派遣名单里划掉了； 上海某小学体育课，50米跑测试时有胖孩子中途喘到呕吐…… 这些扎心的现实背后，是中国超重和肥胖率在15年内暴涨12倍的惊人事实。 更让人警醒的是肥胖带来的经济账单： 而这还只是冰山一角——肥胖带来的医疗、养老、工伤等间接成本，远不止这些数字所能反映。 难怪国家卫健委主任雷海潮会直言："这不是审美问题，是生死存亡。" ▍"减肥"是席卷全球的健康危机 确实，肥胖问题早已不是中国独有的挑战，而是一场波及全球的健康危机。 根据权威医学杂志《柳叶刀》最新发布的研究报告，截至2021年，全球超重及肥胖人 ...

但这也并不意味着高枕无忧，赛琳娜参与创立的另一家心理健康初创公司已连续数周未能向 员工、自由职业者和供应商支付薪酬和款项。 坊间传闻赛琳娜·戈麦斯（Selena Gomez）的身家已达十位数，然而《福布斯》的估算显示，这位从迪 士尼明星转型为商业大亨的女性，其财富距离10亿美元大关还有一段距离。 TMZ今日爆出震撼弹：昔日乐坛天王贾斯汀·比伯被指拖欠前经纪人880万美金（约6345万人 民币）巨债，深陷信用破产危机。而更令人唏嘘的是，他那位曾与之上演十年"北美意难 忘"的前任——赛琳娜·戈麦斯，却在同时间轴里完成了华丽转身。她创立的美妆品牌助其身 家迈上7亿美元大关，稳居美国最富有的白手起家女性企业家阵容。 背后原因何在？ 《福布斯》近日发布了一篇关于Wondermind公司财务问题的报道。这家由演员兼商业大亨赛琳娜·戈麦 斯参与创立的心理健康初创公司已连续数周未能向员工、自由职业者和供应商支付薪酬和款项。 周一，一位了解情况的消息人士证实，该公司已裁撤9名员工，向他们支付了相当于两周薪水的遣散 费，目前公司仅剩4名员工。 01 2021年，戈麦斯与母亲曼迪·蒂菲（Mandy Teefey）以及时事通讯创业者 ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $500.8 million, a 7.1% increase from $467.6 million in Q1 2024, representing an 8.9% growth rate on a revenue per day basis [8][12] - Adjusted EBITDA was $102.7 million, up 6.8% from $96.1 million in the same quarter last year, with a slight decrease in adjusted EBITDA margin from 20.6% to 20.5% [8][19] - Net income was $40.6 million, lower than the same quarter last year primarily due to increased interest expenses and transaction costs related to acquisitions [10][19] Business Line Data and Key Metrics Changes - Total patient visits per day increased 3.2% year over year to 50,900, with a 0.6% increase to 49,600 when excluding the Nova acquisition [5][12] - Workers' compensation revenue was $302.1 million, an 8% increase year over year, with visits per day up 2.4% [13] - Employer services revenue increased 6.2% to $160.1 million, with visits per day up 3.9%, marking a turnaround from previous declines [14][19] Market Data and Key Metrics Changes - The company reported strong growth in both workers' compensation and employer services, indicating a positive trend in visit volumes across all service lines [6][10] - The acquisition of Nova Medical Centers contributed positively to the company's performance, although it only accounted for one month of results in Q1 [4][10] Company Strategy and Development Direction - The company is focused on corporate development, having recently completed several acquisitions, including Nova and Physician Health Center, and is set to close the Pivot On-site acquisition [7][25] - The strategy includes expanding the on-site health clinics business, which is expected to double revenue in that segment and enhance overall service offerings [24][25] - The company aims to maintain a leverage ratio of approximately 3.5 times by the end of 2025 and is committed to deleveraging while focusing on organic growth initiatives [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current macroeconomic environment, noting no observed impact on visit volumes despite broader economic uncertainties [28][29] - The company is well-positioned to handle potential economic slowdowns, leveraging its history of managing costs effectively during downturns [31][32] - Future growth is anticipated from potential increases in manufacturing jobs due to reshoring efforts, which could drive visit growth at the company's centers [30][32] Other Important Information - The company declared a cash dividend of $0.0625 per share, payable on May 29, 2025 [22] - The company ended Q1 2025 with a total debt balance of $1.6 billion and a cash balance of $52 million, with a net leverage ratio of 3.9 times [21] Q&A Session Summary Question: Discussion on Employer Services volumes and turnaround - Management noted that the turnaround in employer services was aided by improved sales and marketing efforts, leading to increased optimism among employers [38][40] Question: Future growth with recent acquisitions - Management highlighted that the acquisitions enhance partnerships within the managed care ecosystem, driving additional volume and growth opportunities [42][44] Question: Workers' compensation performance and outlook - Management acknowledged that while organic growth was slightly slower than expected, they anticipate continued positive growth in the future [51][52] Question: Impact of inflation on rates - Management indicated that rates typically adjust in line with inflation, with historical patterns showing timely updates to fee schedules [58][60] Question: Cost of services performance and labor efficiencies - Management confirmed that labor efficiencies and revenue increases contributed to lower costs as a percentage of revenue, with ongoing investments in technology to enhance efficiency [62][64] Question: Guidance update and acquisition impacts - Management clarified that the updated guidance includes contributions from recent acquisitions, with expectations for continued strong performance [66][68]

Core Viewpoint - The healthcare industry in Erqi District is experiencing significant growth and innovation, with a focus on building a comprehensive ecosystem for biocell technology and cancer treatment solutions [1][3][6]. Group 1: Industry Development Strategy - Erqi District has established a "Six Medicine" development strategy, focusing on medical, healthcare, pharmaceuticals, medical aesthetics, health management, and medical psychology [3]. - The district is creating a "medical health industry development axis" along University Road, integrating sports health and cultural tourism [3]. - A dedicated task force has been formed by district leaders to enhance the healthcare industry, resulting in the issuance of measures to promote high-quality development [3]. Group 2: Infrastructure and Investment - The district is developing high-quality health industry parks, such as the He Medical Health Service and Medical Technology Innovation Park, leveraging local hospital resources [5]. - The Eurasia land urban renewal project plans to invest 690 million yuan in constructing a comprehensive park for medical research, health services, and industrial internet [5]. - The establishment of the ZH Medical Instrument High-end Intelligent Manufacturing Industrial Park has successfully attracted over 300 companies within a year [5]. Group 3: Innovation and Talent Development - Erqi District is collaborating with local universities to supply research and skilled talent to the healthcare industry, having established 24 provincial-level medical key laboratories and 104 municipal-level laboratories [6]. - The newly built Saiosibo International CGT Research Center features a 2,000 square meter core laboratory and is equipped with an internationally certified GMP production workshop and AI-assisted R&D systems [6]. - The district aims to continue enhancing the "Six Medicine" initiative, promoting the healthcare industry towards high-end, intelligent, and clustered development [6].

Lifestance Health Group (LFST) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Speaker0 Good day everyone and thank you for standing by. My name is Argy, and I will be your conference operator today. At this time, I would like to welcome everyone to LifeStan's Health first quarter twenty twenty five earnings call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask question during this time, sim ...