When wandering in the desert, beware shimmering water on the horizon. If May's better-than-expected jobs report offered the dehydrated US labour market hope of succour, June's miserable effort was a mouthful of sand. Nonfarm payrolls, including a drop in public sector employment related to the Census, fell by 467,000, more than 100,000 worse than expected. A jump in unemployment among teenagers may mean school-leavers are affecting the figures. But there remain concerns.
當你在沙漠中迷失時,要小心地平線上微微發光的水源。如果說5月份好於預期的就業報告給美國脫水的勞動力市場帶來了救援的希望,那麼6月份的糟糕結果相當於滿嘴的沙。非農就業人數(包括與人口普查相關的公共部門就業人數下降)減少了46.7萬人,比預期多了逾10萬人。青少年失業率的飆升可能意味著,剛畢業的學生正在影響就業數據。但仍然存在其它擔憂。