美国第三季度劳动生产率增速加快，录得一年来最快增幅，显示资本支出热潮正在转化为更高的效率，而此时投入成本已飙升。
US labor productivity accelerated in the third quarter at the fastest pace in a year, suggesting a capital spending boom is translating into greater efficiency at a time when input costs have soared.
劳工统计局周四公布的数据显示，生产率——即非农业部门每小时产出——以3.6%的年化率增长，此前第二季度经上修后为2.1%。
Productivity, or nonfarm business output per hour, increased at a 3.6% annualized rate after an upwardly revised 2.1% pace in the prior quarter, data from the Bureau of Labor Statistics showed Thursday.
单位劳动成本——企业生产单位产出所支付的员工成本——下降0.7%，为2025年第二季度以来首次下降。
Unit labor costs — what businesses pay employees to produce one unit of output — fell 0.7%, the first decline since the second quarter of 2025.
劳动成本是许多企业最大的开支，因此公司投资新技术和设备，以使工人变得更高效。生产率增长有助于企业限制对消费者和其他企业的涨价幅度。
Labor costs are the biggest expense for many businesses, so companies invest in new technology and equipment to allow their workers to become more efficient. Productivity growth can help firms limit price hikes for consumers and other businesses.
企业已向人工智能、软件和设备投入巨资——企业预期这些投资将使其能以相同的劳动力投入创造更多产出。
Companies have poured massive amounts of money into artificial intelligence, software and equipment — investment that businesses anticipate will allow them to generate more output with the same amount of labor.
在美国商业投资活跃、消费支出韧性十足的推动下，第三季度经济增长加速。经济学家普遍预计，在人工智能热潮推动下，效率提升将在今年继续。
US economic growth accelerated in the third quarter amid vibrant business investment and resilient consumer spending. Economists generally expect efficiency gains to continue this year amid the AI rush.
联储官员在10月会议后将生产率增长描述为“强劲”，尽管通胀依然居高不下。主席凯文·沃什表示，技术进步最终应缓解价格压力，同时警告称，任何由人工智能驱动的生产率红利将逐步显现。
After their October meeting, Federal Reserve officials described productivity growth as “strong” even as inflation remained elevated. Chairman Kevin Warsh has said technological advances should ultimately ease price pressures, while cautioning that any AI-driven productivity payoff will gradually emerge.
周四公布的另一份政府报告显示，上周初请失业金人数下降，触及1969年以来的最低水平，凸显就业市场稳健。
Another government report out Thursday showed initial applications for unemployment benefits declined last week to match the lowest level since 1969, highlighting a stable job market.
生产率报告显示，第三季度非农业部门产出（不包括政府支出影响）以3.7%的年化率增长，为一年来最快增速。
The productivity report showed third-quarter nonfarm business output, which excludes the impact of government spending, increased an annualized 3.7% — the fastest pace in a year.
工作时数增长0.1%，未经通胀调整的小时薪酬按年率计算上升2.9%。经通胀调整后，工人薪酬上升1.1%。
Hours worked rose 0.1%, while hourly compensation, unadjusted for inflation, increased an annualized 2.9%. After adjusting for inflation, worker compensation rose 1.1%.
劳动收入份额——即以薪酬形式流向工人的产出比例——在2026年第三季度为53%，为1947年有数据以来的最低水平。
The labor share of income, the portion of output that goes to workers in the form of compensation, was 53% in the third quarter of 2026, the lowest level in data back to 1947.
另据挑战者、格雷与圣诞公司周四发布的单独数据显示，10月份裁员公告数量为三年来同期最低。
Separate figures out Thursday from Challenger, Gray & Christmas showed layoff announcements were the lowest for any October in three years.