美国就业市场向好，但通货膨胀仍在继续

As Americans get ready to mark a holiday honoring workers in the labor movement, we are about to get an update on the health of the U.S. labor market.

当美国人准备纪念一个节日--向劳工运动中的工人致敬时，我们将得到美国劳动力市场健康状况的最新消息。

That market has been unusually tight with an unemployment rate matching its lowest level in 50 years.

当失业率降至50年来的最低水平时，劳动力市场一直异常吃紧。

Employers have been adding even more jobs, and we find out later this morning if that continued in August.

雇主们一直在增加更多的工作岗位，今天上午晚些时候我们将知道这种情况是否会在8月份继续下去。

We've got NPR's Scott Horsley with us this morning. Hey, Scott.

今天早上我们请到了NPR新闻的斯科特·霍斯利。嘿,斯科特。

Good morning, Rachel.

早上好, 瑞秋。

So July's job gains actually turned out to be much stronger than expected.

7月份的就业增长实际上比预期的要强劲得多。

How are things shaping up for August?

8月份的情况进展如何?

The job market has been a real bright spot in the U.S. economy,

就业市场一直是美国经济的一个真正的亮点，

and forecasters expect to see another strong month of hiring - maybe not quite as strong as July when employers added more than half a million jobs, but you never know.

预测人士预计，在接下来的一个月里，就业市场将继续强劲增长，可能不会像7月份那样强劲。7月份，美国雇主增加了50多万个工作岗位，但你永远无法预测未来的情况。

Wells Fargo is predicting that employers added about 375,000 jobs last month.

富国银行预计，上个月美国雇主增加了约37.5万个工作岗位。

The bank actually raised its jobs forecast yesterday after a better-than-expected report on the manufacturing sector.

实际上，昨天公布了好于预期的制造业报告，之后，这家美国银行提高了就业预期。

You know, for a long time, factories have struggled to hire as many workers as they would like, but Tim Fiore, who does a survey of manufacturers every month for the Institute for Supply Management, says factories had better luck recruiting workers in August.

在很长一段时间里，工厂一直很难招聘到他们想要的那么多工人，但蒂姆·菲奥雷(他每个月都为供应管理协会做一次制造商的调查)表示，工厂在8月份幸运地招聘到了工人。

Our hiring ability has gotten better, and we're actually seeing gains in the payroll.

我们的招聘能力变得更好了，我们实际上看到了发放工资总额的增长。

There have also been some other signs, positive signs, about the job market.

就业市场也出现了一些积极的迹象。

New claims for unemployment fell last week for the third consecutive week.

上周，首次申领失业救济的人数连续第三周下降。

Those claims are really low by historical standards, which suggests employers are reluctant to cut workers right now.

以历史标准衡量，这一数字真的很低，这表明雇主目前不愿裁员。

And that's not surprising because at last count, there were almost twice as many vacant jobs as there are unemployed people looking for work.

这并不奇怪，因为根据最新统计，空缺职位的数量几乎是待业人口数量的两倍。

So the job market remains really tight.

因此，就业市场仍然非常吃紧。

I mean, so workers have a lot of leverage in this moment, yet we've been seeing these big swings in the stock market in recent days - right? - mostly in the downward direction.

我的意思是，在这个时刻，工人们有很大的影响力，然而最近几天我们看到了股市的大幅波动，对吧?——主要是下跌的方向。

What's going on?

发生了什么事情?

Investors are concerned that there is a cloud behind this silver-line job market, and that is higher inflation and higher interest rates.

投资者担心，就业市场向好背后会有隐患，那就是更高的通胀和利率。

A week ago, Federal Reserve Chairman Jerome Powell warned in Jackson Hole, Wyo., that the central bank is going to keep raising interest rates and leave them up in order to get control over runaway prices.

一周前，美联储主席杰罗姆·鲍威尔在怀俄明州的杰克逊霍尔发出警告，称美国央行将继续提高利率，以控制失控的物价。

Powell acknowledged that may cause some pain for both businesses and families.

鲍威尔承认，这可能会给企业和家庭带来一些痛苦。

And one of the things that worries him is that while the U.S. has been adding a lot of jobs, the labor market looks really lopsided.

让他担心的一件事是，虽然美国一直在增加大量就业机会，但劳动力市场看起来确实不平衡。

The labor market is particularly strong, but it is clearly out of balance, with demand for workers substantially exceeding the supply of available workers.

劳动力市场尤其强劲，但显然是失衡的，对工人的需求大大超过了对可用工人的供给。

And Powell worries this very tight job market could fuel additional consumer demand, and that could push prices even higher.

鲍威尔还担心，这种非常吃紧的就业市场可能会刺激额外的消费需求，从而进一步推高价格。

I mean, you nodded to this earlier, but wages - I mean, it's such a tight job market.

我的意思是，对此，你之前也承认过，但是工资——我的意思是，现在的就业市场很吃紧。

Wages, though, are going up, right?

不过，工资在上涨，对吧?

Wages are going up, but prices are going up even faster.

工资在上涨，但物价上涨得更快。

So workers are getting more money in their paychecks, but it's not going as far at the supermarket or when it comes time to pay the electric bill, for example.

工人们的工资上涨了，但这并没有赶上在超市购物或支付电费时的价格上涨。

So the Fed's keeping an eye on wages. So is Nela Richardson.

所以美联储在关注工资。内拉·理查森也在关注工资。

She is chief economist at the payroll processing company ADP.

她是薪资处理公司ADP的首席经济学家。

She's been keeping tabs on the wages of about 10 million workers and says it looks as if pay raises are starting to level off.

她一直密切关注着约1000万名工人的工资，她表示，看起来工资增长似乎开始趋于平稳。