米雇用者の伸び回復も失業率は上昇、12月の米利下げ観測高まる
本文
11月の米雇用統計では、非農業部門雇用者数が22.7万人増と予想を上回る一方、失業率は4.2％に上昇し、労働市場の減速傾向が示唆された。
雇用の伸びは医療、娯楽・ホスピタリティー、政府機関が牽引したが、小売業は約1年ぶりの大幅減少となった。労働参加率は62.5％に低下し、長期失業者も増加。平均時給の伸び率は前年同月比4％増と横ばいだが、賃金上昇ペースは全体的に鈍化した。労働市場の冷え込みを受け、追加利下げ期待が高まり、今後の経済指標やFOMC会合の決定に注目が集まる。一方、雇用回復基調は脆弱で、失業率のさらなる上昇が予想される。
English
The U.S. jobs report for November showed nonfarm payrolls increasing by 227,000, exceeding expectations, while the unemployment rate rose to 4.2%, suggesting a slowing labor market. Job growth was driven by gains in healthcare, leisure and hospitality, and government sectors, while retail experienced its steepest decline in about a year. The labor force participation rate dropped to 62.5%, and the number of long-term unemployed increased. Average hourly earnings grew 4% year-over-year, remaining flat compared to the previous month, but the overall pace of wage growth has slowed. The cooling labor market has heightened expectations for additional rate cuts, with attention focused on upcoming economic data and the decisions at the FOMC meeting. However, the recovery in employment remains fragile, and further increases in the unemployment rate are anticipated.