招财日报2025.7.7 美国就业数据及阿里巴巴公司点评

招银国际
Jul 07, 2025

宏观经济美国经济 - 就业超预期,美联储将继续观望6月美国新增非农就业大超市场预期,失业率也超预期下降,显示就业市场仍然稳健,数据公布后市场对7月降息预期大幅降至5%。但数据背后仍有隐忧,首先新增就业主要由季节性的地方政府教育岗位招聘支撑,而私营部门特别是制造业、金融、医疗保健和酒店休闲等支柱服务业就业大幅放缓。其次,失业率下降主要因劳动参与率的下降,显示特朗普移民政策影响,劳动力供给减少。非农...

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