美国国家公共电台 NPR--How did the employment picture change in the last month?

How did the employment picture change in the last month?

Transcript¹

There are signs the hot U.S. job market cooled off a bit last month. We'll get a temperature check when the Labor² Department reports on job gains for the month of March.

STEVE INSKEEP, HOST:

The hot U.S. job market is a little less hot. We got a temperature check from the Labor Department this morning which shows that employers added fewer workers in March than they did the month before. NPR's Scott Horsley is here. Scott, good morning.

SCOTT HORSLEY, BYLINE³: Good morning, Steve.

INSKEEP: How much of a slowdown are we talking about?

HORSLEY: Employers added 236,000 jobs in March. That's down about 90,000 from February. We've seen a gradual deceleration since the start of the year, when we had that blockbuster month of hiring. But even with the slowdown, you know, 236,000 is still a pretty solid month for job growth. It's well above the average rate back in 2019, the year before the pandemic. And Nela Richardson, who's chief economist⁴ at the payroll⁵ processing company ADP, says, you know, some slowdown is not surprising in an economy that's already added well over 12 million jobs in the last couple of years.

NELA RICHARDSON: Given where we are in the jobs recovery, you would expect to see a lessening⁶ of job gains. I think the story is, yes, we're finally seeing that downshift.

HORSLEY: Keep in mind, the Federal Reserve has been trying to tap the brakes on the economy by raising interest rates as it tries to control inflation. And you can see the effect of those higher borrowing costs in today's report. Construction, for example, cut about 9,000 jobs last month. That's very interest-rate sensitive. And manufacturing businesses shed about 1,000 jobs.

INSKEEP: Well, given that, why would the Fed want to keep going in this direction?

HORSLEY: Yeah, it seems a little odd, right? Most people think the more jobs you add, the better. But the central bank is worried that the job market has been out of balance. That is, demand for workers is outstripping⁷ the number of people available to fill those jobs, and that's pushing up wages. Of course, rising wages are good for workers, but they also have the potential to push up prices, especially in labor-intensive industries like restaurants and auto⁸ repair shops. One way to restore balance would be to have more workers come into the job market. And we are seeing some of that - 480,000 people joined the workforce⁹ last month, which is very positive. But Wells Fargo economist Sarah House says the Fed would also welcome some slowdown in demand for workers.

SARAH HOUSE: It's uncomfortable when we see the labor market weakened, but given how vexing¹⁰ inflation has been over the past two years, if we want to get inflation under control, some softening¹¹ in the labor market is necessary.

HORSLEY: Now, wage gains are slowing down. Average wages in March were 4.2% higher than a year ago. That's down from a 4.6% annual increase the month before.

INSKEEP: Is hiring affected¹² at all by the big economic news of last month, the two big banks that failed?

HORSLEY: Yeah, that's not really evident in today's report, which measures employment right around the time that Silicon¹³ Valley and Signature Banks went under. But the fallout from those bank failures likely will have an impact in the job market in the months to come. You know, other banks have started to get stingier about making loans. That makes it harder and more expensive for businesses to borrow money. And as time goes on, House thinks that will be a drag on hiring.

HOUSE: Overall, you're going to see lenders get a little bit more conservative. We think it's going to contribute to a moderation in payroll growth in the coming months and probably, by the end of this year, looking at some outright¹⁴ job losses.

HORSLEY: Some forecasters are warning that it could be that credit tightening¹⁵ that tips the U.S. economy into a recession later this year. Of course, employers are keeping an eye on those recession concerns, and that's another reason they might be cautious about bringing on additional workers.

INSKEEP: NPR's Scott Horsley. Thanks, as always.

HORSLEY: You're welcome.

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

3 byline   

n.署名；v.署名

参考例句：

• His byline was absent as well.他的署名也不见了。
• We wish to thank the author of this article which carries no byline.我们要感谢这篇文章的那位没有署名的作者。

4 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

5 payroll   

n.工资表，在职人员名单，工薪总额

参考例句：

• His yearly payroll is $1.2 million.他的年薪是120万美元。
• I can't wait to get my payroll check.我真等不及拿到我的工资单了。

6 lessening   

减轻，减少，变小

参考例句：

• So however much he earned, she spent it, her demands growing and lessening with his income. 祥子挣多少，她花多少，她的要求随着他的钱涨落。 来自汉英文学 - 骆驼祥子
• The talks have resulted in a lessening of suspicion. 谈话消减了彼此的怀疑。

7 outstripping   

v.做得比…更好，（在赛跑等中）超过( outstrip的现在分词 )

参考例句：

• Demand is outstripping supply. 需求快超过供给了。
• Demand is outstripping current production. 现在需求逐渐超过了生产能力。 来自辞典例句

8 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

9 workforce   

n.劳动大军，劳动力

参考例句：

• A large part of the workforce is employed in agriculture.劳动人口中一大部分受雇于农业。
• A quarter of the local workforce is unemployed.本地劳动力中有四分之一失业。

10 vexing   

adj.使人烦恼的，使人恼火的v.使烦恼( vex的现在分词 )；使苦恼；使生气；详细讨论

参考例句：

• It is vexing to have to wait a long time for him. 长时间地等他真使人厌烦。 来自《现代英汉综合大词典》
• Lately a vexing problem had grown infuriatingly worse. 最近发生了一个讨厌的问题，而且严重到令人发指的地步。 来自辞典例句

11 softening   

变软，软化

参考例句：

• Her eyes, softening, caressed his face. 她的眼光变得很温柔了。它们不住地爱抚他的脸。 来自汉英文学 - 家（1-26） - 家（1-26）
• He might think my brain was softening or something of the kind. 他也许会觉得我婆婆妈妈的，已经成了个软心肠的人了。

12 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

13 silicon   

n.硅(旧名矽)

参考例句：

• This company pioneered the use of silicon chip.这家公司开创了使用硅片的方法。
• A chip is a piece of silicon about the size of a postage stamp.芯片就是一枚邮票大小的硅片。

14 outright   

adv.坦率地；彻底地；立即；adj.无疑的；彻底的

参考例句：

• If you have a complaint you should tell me outright.如果你有不满意的事，你应该直率地对我说。
• You should persuade her to marry you outright.你应该彻底劝服她嫁给你。

15 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。