To parse this report I'm pleased to say we welcome Acting Labor Secretary Julie Hsu.

為了解讀這份報告，我很高興地說，我們歡迎代理勞工部長徐鈺瑩。

And let's just go through some of the numbers here.

讓我們來看看這裡的一些數字。

I know you're well aware of what happened at 830, but the unemployment rate actually edged down to 4.2 percent.

我知道你們很清楚 830 發生了什麼，但失業率實際上已經下降到了 4.2%。

That was its first decline in five months.

這是五個月來的首次下降。

Payrolls only rose by 142,000 jobs.

就業崗位只增加了 14.2 萬個。

That leaves the three-month average at the lowest since mid-2020.

這使得三個月的平均值達到了自 2020 年中期以來的最低點。

So jobs growth, and it is for the administration, two months away from the election.

是以，對於政府來說，就業增長離大選還有兩個月的時間。

Hi, it's good to be here with you.

嗨，很高興和你在一起。

I would say that this is another job report that indicates that we are continuing to see stable growth.

我想說，這是又一份表明我們繼續保持穩定增長的就業報告。

Jobs numbers are still up.

就業人數仍在增加。

The unemployment rate ticked down slightly.

失業率略有下降。

As you've already mentioned, labor force participation remains steady.

正如您已經提到的，勞動力參與率保持穩定。

Earnings are up.

收益增加。

You know, this is a continued sort of transition, you know, to an economy in which we're continuing to see people come into labor market and find jobs.

你知道，這是一種持續的過渡，你知道，在這種經濟中，我們不斷看到人們進入勞動力市場並找到工作。

And, you know, it's a transition to more stability.

而且，你知道，這是向更加穩定的過渡。

And I know that you're not going to opine on what the Fed should do from here, but of course the concern is out there that we could see this weakening turn into a real deterioration if we don't see the Fed lower interest rates from here.

我知道你不會就美聯儲今後該怎麼做發表意見，但當然有人擔心，如果美聯儲今後不降低利率，我們可能會看到這種疲軟轉變為真正的惡化。

The current policy rate, do you think that that's out of step with the economic reality in the labor market?

你認為目前的政策利率與勞動力市場的經濟現實脫節嗎？

No, I mean, and you're right.

不，我是說，你是對的。

We don't comment on what the Fed will do, but again, I think overall this is another month of many months in which I've come here and we've talked about how we continue to see job growth, right?

我們不評論美聯儲將採取什麼行動，但我再次重申，我認為總體而言，這是我來到這裡，我們談論如何繼續看到就業增長的又一個月份，對嗎？

The numbers are still up.

數字仍在上升。

We're continuing to see growth in various industries.

我們繼續看到各行各業的增長。

We see construction, health care, leisure and hospitality, right?

我們看到了建築、醫療保健、休閒和酒店業，對嗎？

These are all signs of an economy reaching a normal, steady, stable state.

這些都是經濟達到正常、平穩、穩定狀態的標誌。

And we, you know, want to continue to create the investments that are leading to this kind of job creation.

我們希望繼續進行投資，創造就業機會。

And the president will be traveling to Michigan later today to announce an executive order that is ensuring that we're not just counting the number of jobs, we're also making sure that these jobs are good jobs, where families can get ahead, where people can make a steady income, where they can retire with dignity.

今天晚些時候，總統將前往密歇根州宣佈一項行政命令，以確保我們不只是計算就業崗位的數量，我們還要確保這些工作都是好工作，讓家庭能夠出人頭地，讓人們能夠獲得穩定的收入，讓他們能夠有尊嚴地退休。

And so these are all part of the economy that the president promised when he came to office and the economy that these numbers reflect.

是以，這些都是總統上任時承諾的經濟的一部分，也是這些數字所反映的經濟。

Well, building on that, Julie, let's take a look at the specifics at the sector level, because you take a look at the manufacturing industry.

在此基礎上，朱莉，讓我們來看看行業層面的具體情況，因為你看看製造業。

It lost 24,000 jobs.

它失去了 24000 個工作崗位。

The estimate had been for a reduction of 2,000 jobs.

此前的估計是減少 2000 個工作崗位。

And actually the last three of four reports, I believe that sector has shed jobs.

實際上，在過去的四份報告中，我相信有三份報告都提到了這一部門減少了工作崗位。

So what's the current view on why employment in manufacturing has been weakening?

那麼，目前如何看待制造業就業疲軟的原因呢？

So I would say cumulatively, again, the number of manufacturing jobs created since the Biden-Harris administration began is over 700,000 jobs.

是以，我可以說，自拜登-哈里斯政府執政以來，累計創造的製造業就業機會超過了 70 萬個。

This is also part of the promise that we will make things in America again, from semiconductors to electric vehicle batteries.

這也是我們再次在美國製造從半導體到電動汽車電池等產品的承諾的一部分。

The idea is that American workers are the best in the making things.

我們的想法是，美國工人是製造東西的佼佼者。

The investments that are going into communities are also, you're using American-made steel by American union workers and raw materials mined by American union workers.

對社區的投資還包括使用美國工會工人制造的美國鋼材和美國工會工人開採的原材料。

And so, you know, the job growth that we have seen, which again was not promised, most people predicted that it would not happen the way that it has, is not happening by accident.

是以，你知道，我們所看到的就業增長並不是偶然發生的，這也是我們沒有承諾過的，大多數人都預測它不會像現在這樣發生。

It's happening because of real investments and a commitment to job growth.

之所以出現這種情況，是因為進行了真正的投資，並致力於增加就業機會。

So when you look at the overall trends, manufacturing has gone up since the president came to office.

是以，從整體趨勢來看，自總統上任以來，製造業一直在增長。

Construction had significant growth over this last month, and that is also no accident.

建築業在上個月大幅增長，這也絕非偶然。

And I also want to get your perspective, of course, on some snafus, if you want to call them that, that have happened at the Bureau of Labor Statistics when it comes to data releases, because there have been a lot of questions about fair access and distribution of economic data falling.

當然，我還想聽聽你對勞工統計局在數據發佈方面出現的一些問題的看法，如果你想這麼稱呼的話，因為在經濟數據的公平獲取和分配方面一直存在很多問題。

Of course, the February super users incident, we had the early release of inflation data in May.

當然，在 2 月份的超級用戶事件中，我們提前發佈了 5 月份的通脹數據。

And then last month, there was that delay to the payroll revisions figures last month.

上個月的薪資修正數據也出現了延遲。

What steps is the BLS explicitly taking to address those missteps?

BLS 明確採取了哪些措施來解決這些失誤？

So the BLS has addressed those head on.

是以，BLS 已正面解決了這些問題。

We obviously believe in transparent and fair data.

顯然，我們相信數據的透明度和公平性。

That is why we release the data each month the way that we do.

這就是我們每月發佈數據的原因。

And so the BLS has attacked those issues head on to ensure that they do not happen again.

是以，BLS 對這些問題進行了迎頭痛擊，以確保它們不會再次發生。

The fact that some of the information came out not in the way that we exactly would have liked in terms of their timing of release certainly, though, doesn't take away from the fact that this data remains the gold standard for how we judge the health of our economy, how we look at job growth, the employment rate and changes to industries when it comes to the labor market.

雖然有些資訊在發佈時間上與我們的預期不符，但這並不影響這些數據仍然是我們判斷經濟健康狀況、觀察就業增長、就業率和勞動力市場行業變化的黃金標準。

Well, Secretary, I'd love to get a little bit more detail on what that looks like that head on addressing.

祕書，我很想知道更多細節，看看那個頭是什麼樣子的。

I mean, are you considering going back to lockups?

我是說，你在考慮回到禁閉室嗎？

Are you potentially firing people here or hiring more?

你有可能在這裡解僱員工還是僱傭更多人？

What does that look like?

這看起來像什麼？

I mean, we've definitely put in place, you know, to the extent that some of them were technical issues, right, addressing those issues.

我的意思是，我們肯定已經到位，你知道，在一定程度上，其中一些是技術問題，對吧，解決這些問題。

Again, we are absolutely committed to timely and uniform release of data.

同樣，我們絕對致力於及時、統一地發佈數據。

You know, each of these incidents were really, you know, different, but we are taking a systematic look at how to make sure that they don't happen in the future.

你知道，這些事件各有不同，但我們正在系統地研究如何確保今後不再發生。

And while I still have you, I asked about hiring specifically because I spoke to former Fed economist Claudia Somme the day after that payroll revisions delay, and she made the point that the BLS is underfunded.

在你還在的時候，我特別問到了招聘問題，因為在薪資修訂延後的第二天，我與前美聯儲經濟學家克勞迪婭-索姆（Claudia Somme）進行了交談，她提出了一個觀點，即美國統計局資金不足。

And of course, our Department of Labor has done something similar.

當然，我們的勞工部也做了類似的工作。

So I'll put that question to you.

那我就問你這個問題。

Does the BLS need a bigger budget?

BLS 是否需要更多預算？

I mean, you know, certainly nobody wants to see all parts of the Department of Labor adequately funded for the important work that we do that I, but I'll also say to that question about the Somme rule and what it means.

我的意思是，你知道，當然沒有人希望看到勞工部的所有部門都有足夠的資金來開展我們所做的重要工作，但我也要說說關於索姆規則的問題以及它的意義。

You know, a lot of that is about looking at historical data to judge what is happening now.

要知道，這其中很大一部分是通過歷史數據來判斷現在發生的事情。

And I think what we've seen is that what's happened before isn't necessarily a good gauge for what is going on here today.

我認為我們看到的是，以前發生的事情並不一定能很好地衡量今天發生的事情。

Right.

對

The post pandemic economic recovery, the historically low levels of unemployment for such a long period of time and the investments that are being made that have really shaken up the job market in positive ways.

大流行病後的經濟復甦、失業率在如此長的時間內保持在歷史最低水平，以及正在進行的投資確實以積極的方式撼動了就業市場。

And so overall, the many indicators are continuing to show that we are that the economy is growing and that the economy is strong.

是以，總體而言，許多指標繼續顯示，我們的經濟正在增長，經濟強勁。

And, you know, either way, obviously, it's important for us to keep on reporting the facts as they come out.

而且，你知道，無論如何，我們都必須繼續報道事實真相。

Secretary, really appreciate you taking the time on what I know is a busy morning.

祕書，真的很感謝你在我知道很忙的上午抽出時間。

Our big thanks, of course, Acting Labor Secretary Julie Suh.

當然，我們要衷心感謝代理勞工部長朱莉-蘇（Julie Suh）。