分析:美国去年Q4生产率超预期增长,成本管控助推通胀降温

Odaily星球日报讯 美国 2025 年第四季度劳动生产率升幅超出预期,进一步证明企业正努力提高效率以控制成本。劳工统计局周四公布的数据显示,继第三季度上修为 5.2%的增长之后,第四季度生产率(即非农部门每小时产出)折合年率增长了 2.8%。此前调研的经济学家预测中值为增长 1.9%。近期生产率的提升趋势有助于确保薪资压力得到控制,并证实了美联储官员的观点,即劳动力市场已不再是通胀的源头。劳动力成本是许多企业的最大支出,因此公司正转向新技术和新设备来提高员工效率。企业在人工智能(AI)等技术上的投入使部分公司能够以更精简的人员维持运营,这也是导致去年招聘乏力的原因之一。在 AI 投资持续升温的背景下,经济学家普遍预计今年效率将继续提升。(金十)

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