美國第二季度生產率出現(xiàn)6年來比較大升幅

The productivity of US workers rose at its fastest pace in six years in the second quarter as employers cut staff costs, according to the labour department.

美國勞工部的數(shù)據(jù)顯示，由于雇主削減員工成本，美國第二季度生產率出現(xiàn)6年來最大增幅。

Analysts said the higher-than-expected 6.4 per cent increase in productivity was another signal that the US economy might be emerging from recession – one that helped free the Federal Reserve to pursue aggressive monetary policy.

分析師表示，生產率高于預期的6.4%的升幅，是美國經濟可能正走出衰退的又一信號。這有助于緩解美聯(lián)儲的擔憂，使其得以推行激進的貨幣政策。

“The worst is over. Firms should now be able to consider keeping their workforce constant,” said Joseph Brusuelas, director of Moody's Economy.com. “Perhaps more importantly, the efficiency gains bode well for a more stable inflation environment, giving extraordinary comfort to the Fed as they consider monetary policy.”

穆迪(Moody's)旗下Economy.com網(wǎng)站主管約瑟夫•布魯修拉斯(Joseph Brusuelas)表示：“最糟的時候已經過去?，F(xiàn)在各公司應該有能力考慮維持勞動力的穩(wěn)定了?；蛟S更重要的是，生產率的上升預示將出現(xiàn)一個更加穩(wěn)定的通脹環(huán)境，讓美聯(lián)儲在考慮貨幣政策時有更寬松的余地。”

Analysts surveyed by Reuters had expected productivity to increase 5.3 per cent.

接受路透社(Reuters)調查的分析師曾預測生產率將上升5.3%。

Hours worked fell 7.6 per cent, but output decreased only 1.7 per cent. Over the past year, falling hours and output has led to an increase of 1.8 per cent in output per hour.

第二季度工作時間比第一季度減少了7.6%，但產出僅下降1.7%。在過去一年里，工作時間和產出的下降致使每小時產出增加了1.8%。

“As a pattern, productivity is holding up very well in this cycle, which tends to bode well from a long-term growth perspective,” said Alan Ruskin, chief international strategist at RBS Global Banking and Markets.

“本輪經濟周期中，生產率整體保持得相當良好，這往往是長期增長前景的吉兆，”蘇格蘭皇家銀行(RBS)環(huán)球銀行及資本市場部首席國際策略師阿蘭·魯斯金(Alan Ruskin)表示。

Wages continued to fall in real terms. Taking into account inflation, compensation in the second quarter fell 1.1 per cent. But excluding inflation, non-farm business pay rose 0.2 per cent in the second quarter, compared with a 2.4 per cent decrease a quarter earlier.

實際工資繼續(xù)下降。計入通脹因素，第二季度薪酬水平下降了1.1%，但若不計通脹因素，第二季度非農商業(yè)薪酬則增加了0.2%，而上一季度是下降2.4%。

“Many workers are experiencing wage freezes and taking pay cuts to keep their jobs, one of the risks to the recovery going forward,” said Mr Brusuelas.

“許多工人的薪水遭遇凍結，或是為了保住工作被迫接受減薪。這是影響經濟復蘇前景的風險之一，”布魯修拉斯表示。

譯者/管婧