招财日报2025.8.4 美国就业/中国快递、半导体、科技行业/亚马逊等公司点评

招银国际
Aug 04

宏观点评美国经济 - 就业显著走弱,美联储面临两难美国7月新增非农就业低于市场预期,同时5-6月数据大幅下修25.8万人,过去3个月移动平均降至3.5万人,就业市场大幅走弱。商品生产与政府就业环比下降,服务业就业在零售、金融和医疗服务的推动下有所反弹。失业率小幅上升,虽然创21年以来新高但仍属于历史低位。劳动参与率连续下降至22年以来新低,显示劳动力供给收缩,同时也掩盖了就业市场真实的疲软状态。...

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