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美国就业成本增长保持稳定,仍低于通胀水平US Employment Cost Growth Stable, Stays Below Inflation

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10月28日,俄克拉何马城一家工厂的工人正在清点乙烯基淋浴帘。摄影师:尼克·牛津/彭博社A worker counts vinyl shower curtains at a factory in Oklahoma City on Oct. 28. Photographer: Nick Oxford/Bloomberg

美国劳动力成本增长在第三季度保持稳定,表明就业市场并未对更广泛的通胀压力起到推波助澜的作用。

US labor cost growth held steady in the third quarter, suggesting that the job market is not contributing to broader inflationary pressures.

美国劳工统计局周五公布的数据显示,追踪工资和福利变化的就业成本指数在截至9月的12个月内上涨3.4%。经通胀调整后,薪酬成本下降0.4%。从季度来看,该指标上涨0.8%。

The employment cost index, which tracks changes in wages and benefits, increased 3.4% in the 12 months ended in September, according to Bureau of Labor Statistics figures out Friday. Adjusted for inflation, compensation costs declined 0.4%. On a quarterly basis, the gauge rose 0.8%.

今年以来,劳动力市场总体保持稳定,裁员较少,招聘也较为低迷。但许多工人难以跟上物价上涨的步伐。

The labor market has been broadly stable this year, with few layoffs alongside subdued hiring. But many workers have struggled to keep up with rising prices.

美联储主席凯文·沃什周三在央行决定维持利率不变后表示:“就业增长与劳动力规模保持同步,失业率变化不大。但通胀仍然高企。”

“Job gains have kept pace with the workforce, and the unemployment rate has changed little. But inflation remains elevated,” Federal Reserve Chairman Kevin Warsh said Wednesday after the central bank decided to keep interest rates unchanged.

周五的就业成本指数报告显示,截至9月的三个月内,文职人员的工资和薪金增长小幅降至0.7%,较上年同期增长3.1%——为2021年以来最低。经通胀调整后,截至9月的12个月内工资下降0.6%。

Friday’s ECI report showed that growth in wages and salaries for civilian workers edged down to 0.7% in the three months through September, and 3.1% from a year earlier — the lowest since 2021. Adjusted for inflation, wages fell 0.6% in the 12 months through September.

截至9月的一年内,私营部门雇主为健康福利支付的费用升至6.4%,为2025年底以来的最高水平。

Private-sector employer costs for health benefits picked up to 6.4% in the year through September, the highest since the end of 2025.

下周,美国劳工统计局将发布10月就业报告,提供有关全美招聘和工资状况的最新情况。

Next week, the BLS will release its October jobs report, offering a fresh look at hiring and wages across the US.

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