{"id":8912,"date":"2025-12-17T08:30:43","date_gmt":"2025-12-17T08:30:43","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=8912"},"modified":"2025-12-17T08:30:46","modified_gmt":"2025-12-17T08:30:46","slug":"us-non-farm-payroll-data-mixed-signals-market-dynamics-amid-data-revision-controversy-and-policy-choices","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/us-non-farm-payroll-data-mixed-signals-market-dynamics-amid-data-revision-controversy-and-policy-choices\/","title":{"rendered":"D\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p c\u1ee7a Hoa K\u1ef3: T\u00edn hi\u1ec7u tr\u00e1i chi\u1ec1u - \u0110\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng trong b\u1ed1i c\u1ea3nh tranh c\u00e3i v\u1ec1 s\u1eeda \u0111\u1ed5i d\u1eef li\u1ec7u v\u00e0 l\u1ef1a ch\u1ecdn ch\u00ednh s\u00e1ch"},"content":{"rendered":"

Th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m \u1edf M\u1ef9 g\u1ea7n \u0111\u00e2y \u0111\u00e3 cho th\u1ea5y m\u1ed9t b\u1ee9c tranh ph\u1ee9c t\u1ea1p. M\u1eb7c d\u00f9 d\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p c\u1ee7a th\u00e1ng 11 v\u01b0\u1ee3t qu\u00e1 mong \u0111\u1ee3i nh\u01b0ng n\u00f3 c\u0169ng \u1ea9n ch\u1ee9a nh\u1eefng lo ng\u1ea1i ti\u1ec1m \u1ea9n. H\u01a1n n\u1eefa, vi\u1ec7c ch\u00ednh ph\u1ee7 \u0111\u00f3ng c\u1eeda d\u1eabn \u0111\u1ebfn vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh c\u01a1 ch\u1ebf thu th\u1eadp d\u1eef li\u1ec7u \u0111\u00e3 l\u00e0m t\u0103ng c\u01b0\u1eddng c\u00e1c cu\u1ed9c th\u1ea3o lu\u1eadn v\u1ec1 t\u00ecnh tr\u1ea1ng th\u1ef1c s\u1ef1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng. T\u1eeb nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a d\u1eef li\u1ec7u cho \u0111\u1ebfn nh\u1eefng tranh c\u00e3i th\u1ed1ng k\u00ea c\u01a1 b\u1ea3n v\u00e0 ph\u1ea3n \u1ee9ng ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, nhi\u1ec1u y\u1ebfu t\u1ed1 \u0111an xen v\u00e0o nhau, khi\u1ebfn qu\u1ef9 \u0111\u1ea1o c\u1ee7a n\u1ec1n kinh t\u1ebf M\u1ef9 ng\u00e0y c\u00e0ng tr\u1edf n\u00ean mong manh.<\/p>\n

<\/a>T\u0103ng tr\u01b0\u1edfng vi\u1ec7c l\u00e0m b\u1ea5t ng\u1edd v\u00e0 nh\u1eefng d\u1ea5u hi\u1ec7u y\u1ebfu k\u00e9m \u0111ang n\u1ed5i l\u00ean<\/strong><\/p>\n

D\u1eef li\u1ec7u vi\u1ec7c l\u00e0m th\u00e1ng 11 c\u1ee7a M\u1ef9 cho th\u1ea5y s\u1ef1 kh\u00e1c bi\u1ec7t r\u00f5 r\u00e0ng. D\u1eef li\u1ec7u t\u1eeb C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng cho th\u1ea5y b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh theo m\u00f9a \u0111\u00e3 t\u0103ng 64.000, v\u01b0\u1ee3t k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 50.000, mang l\u1ea1i tia hy v\u1ecdng cho th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng tr\u00ec tr\u1ec7. Tuy nhi\u00ean, c\u00f9ng l\u00fac \u0111\u00f3, m\u1ed9t s\u1ed1 ch\u1ec9 s\u1ed1 ch\u00ednh b\u1ed9c l\u1ed9 nh\u1eefng lo ng\u1ea1i ti\u1ec1m \u1ea9n: t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p l\u00ean t\u1edbi 4,6%, kh\u00f4ng ch\u1ec9 cao h\u01a1n d\u1ef1 ki\u1ebfn \u200b\u200b4,4% m\u00e0 c\u00f2n l\u00e0 m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 9\/2021; t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m v\u00e0 h\u00e0ng th\u00e1ng c\u1ee7a ti\u1ec1n l\u01b0\u01a1ng trung b\u00ecnh theo gi\u1edd l\u1ea7n l\u01b0\u1ee3t ch\u1ec9 l\u00e0 3,5% v\u00e0 0,1%, \u0111\u1ec1u th\u1ea5p h\u01a1n k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, \u0111\u00e1nh d\u1ea5u t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng th\u1ea5p nh\u1ea5t trong chu k\u1ef3 n\u00e0y.<\/p>\n

\"h\u00ecnh<\/p>\n

\u0110\u00e1ng ch\u00fa \u00fd h\u01a1n l\u00e0 nh\u1eefng s\u1eeda \u0111\u1ed5i v\u1ec1 d\u1eef li\u1ec7u l\u1ecbch s\u1eed v\u00e0 hi\u1ec7u su\u1ea5t y\u1ebfu k\u00e9m c\u1ee7a c\u00e1c th\u00e1ng li\u1ec1n k\u1ec1. B\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p trong th\u00e1ng 10 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh xu\u1ed1ng m\u1ee9c gi\u1ea3m 105.000, m\u1ee9c gi\u1ea3m l\u1edbn nh\u1ea5t k\u1ec3 t\u1eeb cu\u1ed1i n\u0103m 2020, v\u01b0\u1ee3t xa k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 25.000. S\u1ef1 thay \u0111\u1ed5i n\u00e0y ch\u1ee7 y\u1ebfu l\u00e0 do h\u01a1n 150.000 nh\u00e2n vi\u00ean li\u00ean bang ch\u1ea5p nh\u1eadn mua l\u1ea1i tr\u1ea3 ch\u1eadm, t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn vi\u1ec7c ch\u00ednh quy\u1ec1n Trump c\u1eaft gi\u1ea3m quy m\u00f4 ch\u00ednh ph\u1ee7 li\u00ean bang. H\u01a1n n\u1eefa, s\u1ed1 li\u1ec7u th\u00e1ng 8 v\u00e0 th\u00e1ng 9 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m t\u1ed5ng c\u1ed9ng 33.000, ti\u1ebfp t\u1ee5c xu h\u01b0\u1edbng \u0111i\u1ec1u ch\u1ec9nh th\u01b0\u1eddng xuy\u00ean d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m trong n\u0103m nay. S\u1ef1 y\u1ebfu k\u00e9m trong th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m c\u0169ng lan sang l\u0129nh v\u1ef1c ti\u00eau d\u00f9ng. D\u1eef li\u1ec7u t\u1eeb B\u1ed9 Th\u01b0\u01a1ng m\u1ea1i Hoa K\u1ef3 cho th\u1ea5y doanh s\u1ed1 b\u00e1n l\u1ebb trong th\u00e1ng 10 b\u1ea5t ng\u1edd kh\u00f4ng t\u0103ng tr\u01b0\u1edfng, th\u1ea5p h\u01a1n m\u1ee9c 0,1% d\u1ef1 ki\u1ebfn, k\u00e9o theo doanh s\u1ed1 b\u00e1n \u00f4 t\u00f4 y\u1ebfu. Con s\u1ed1 tr\u01b0\u1edbc \u0111\u00f3 c\u0169ng \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m t\u1eeb 0,2% xu\u1ed1ng 0,1%, ph\u1ea3n \u00e1nh t\u00e1c \u0111\u1ed9ng ti\u1ec1m t\u00e0ng c\u1ee7a bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m \u0111\u1ed1i v\u1edbi ti\u00eau d\u00f9ng h\u1ed9 gia \u0111\u00ecnh.<\/p>\n

<\/a>S\u1ef1 c\u00e2n b\u1eb1ng gi\u1eefa t\u00ednh ch\u00ednh x\u00e1c v\u00e0 k\u1ecbp th\u1eddi \u0111\u1eb1ng sau vi\u1ec7c k\u00e9o d\u00e0i th\u1eddi gian thu th\u1eadp<\/strong><\/p>\n

Vi\u1ec7c c\u00f4ng b\u1ed1 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m n\u00e0y \u0111\u1eb7c bi\u1ec7t \u0111\u00e1ng ch\u00fa \u00fd trong b\u1ed1i c\u1ea3nh \u0111\u1eb7c bi\u1ec7t xung quanh n\u00f3\u2014vi\u1ec7c ch\u00ednh ph\u1ee7 \u0111\u00f3ng c\u1eeda \u0111\u00e3 tr\u00ec ho\u00e3n vi\u1ec7c c\u00f4ng b\u1ed1 b\u00e1o c\u00e1o th\u00e1ng 9 v\u00e0 th\u00e1ng 11, gi\u00fap c\u00e1c doanh nghi\u1ec7p c\u00f3 th\u00eam th\u1eddi gian \u0111\u1ec3 b\u00e1o c\u00e1o th\u00f4ng tin v\u1ec1 b\u1ea3ng l\u01b0\u01a1ng. S\u1ef1 \u0111i\u1ec1u ch\u1ec9nh n\u00e0y tr\u1ef1c ti\u1ebfp th\u00fac \u0111\u1ea9y t\u1ed1c \u0111\u1ed9 thu th\u1eadp d\u1eef li\u1ec7u. D\u1eef li\u1ec7u cho th\u1ea5y t\u1ef7 l\u1ec7 thu th\u1eadp \u0111\u1ea1t 80,2% trong k\u1ef3 thu th\u1eadp \u0111\u1ea7u ti\u00ean c\u1ee7a cu\u1ed9c kh\u1ea3o s\u00e1t vi\u1ec7c l\u00e0m th\u00e1ng 9, v\u00e0 c\u1ea3 th\u00e1ng 10 v\u00e0 th\u00e1ng 11 \u0111\u1ec1u ch\u1ee9ng ki\u1ebfn \u200b\u200bt\u1ef7 l\u1ec7 v\u01b0\u1ee3t qu\u00e1 73%, thu\u1ed9c h\u00e0ng cao nh\u1ea5t trong 5 n\u0103m qua. C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng cho bi\u1ebft th\u1eddi gian thu th\u1eadp k\u00e9o d\u00e0i cho ph\u00e9p nhi\u1ec1u doanh nghi\u1ec7p ho\u00e0n th\u00e0nh b\u00e1o c\u00e1o h\u01a1n, g\u00f3p ph\u1ea7n c\u1ea3i thi\u1ec7n \u0111\u1ed9 ch\u00ednh x\u00e1c c\u1ee7a d\u1eef li\u1ec7u.<\/p>\n

Tuy nhi\u00ean, s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh n\u00e0y c\u0169ng l\u00e0m d\u1ea5y l\u00ean m\u1ed9t cu\u1ed9c tranh lu\u1eadn s\u00f4i n\u1ed5i v\u1ec1 t\u00ednh k\u1ecbp th\u1eddi v\u00e0 \u0111\u1ed9 ch\u00ednh x\u00e1c. Erica Groshen, ng\u01b0\u1eddi t\u1eebng gi\u1eef ch\u1ee9c v\u1ee5 gi\u00e1m \u0111\u1ed1c C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng t\u1eeb n\u0103m 2013 \u0111\u1ebfn \u0111\u1ea7u n\u0103m 2017, \u0111\u00e3 ch\u1ec9 ra r\u1eb1ng b\u1ea5t k\u1ef3 d\u1ef1 \u00e1n th\u1ed1ng k\u00ea n\u00e0o c\u00f3 c\u01a1 ch\u1ebf s\u1eeda \u0111\u1ed5i \u0111\u1ec1u ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi m\u1ed9t m\u00e2u thu\u1eabn c\u1ed1t l\u00f5i: \u201cB\u1ea1n mu\u1ed1n v\u1eeba k\u1ecbp th\u1eddi v\u1eeba ch\u00ednh x\u00e1c, nh\u01b0ng b\u1ea1n kh\u00f4ng th\u1ec3 c\u00f3 c\u1ea3 hai\u201d. Omair Sharif, ch\u1ee7 t\u1ecbch c\u1ee7a Inflation Insights LLC, th\u1eb3ng th\u1eebng tuy\u00ean b\u1ed1 r\u1eb1ng m\u1eb7c d\u00f9 b\u1ea3n s\u1eeda \u0111\u1ed5i nh\u1ecf h\u01a1n l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u t\u00edch c\u1ef1c, nh\u01b0ng vi\u1ec7c \u0111\u1ee3i 5 ho\u1eb7c 6 tu\u1ea7n \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c d\u1eef li\u1ec7u \u201cch\u00ednh x\u00e1c h\u01a1n\u201d n\u00e0y, d\u1eabn \u0111\u1ebfn d\u1eef li\u1ec7u l\u1ed7i th\u1eddi nghi\u00eam tr\u1ecdng, cu\u1ed1i c\u00f9ng l\u1ea1i ph\u1ea3n t\u00e1c d\u1ee5ng. Michael Horrigan, ng\u01b0\u1eddi tr\u01b0\u1edbc \u0111\u00e2y gi\u00e1m s\u00e1t vi\u1ec7c \u0111o l\u01b0\u1eddng vi\u1ec7c l\u00e0m t\u1ea1i C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng, tin r\u1eb1ng vi\u1ec7c ch\u1edd \u0111\u1ee3i ch\u1ec9 m\u1ed9t ho\u1eb7c hai tu\u1ea7n s\u1ebd l\u00e0m gi\u1ea3m \u0111\u00e1ng k\u1ec3 nh\u1eefng l\u1ea7n s\u1eeda \u0111\u1ed5i ti\u1ebfp theo v\u00e0 kh\u00f4ng c\u1ea7n ph\u1ea3i ch\u1edd \u0111\u1ee3i qu\u00e1 l\u00e2u.<\/p>\n

<\/p>\n

Cu\u1ed9c tranh c\u00e3i xung quanh vi\u1ec7c s\u1eeda \u0111\u1ed5i d\u1eef li\u1ec7u c\u0169ng c\u00f3 y\u1ebfu t\u1ed1 ch\u00ednh tr\u1ecb h\u00f3a. Sau khi Trump sa th\u1ea3i gi\u00e1m \u0111\u1ed1c C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng v\u00e0o th\u00e1ng 8, \u00f4ng g\u1ecdi nh\u1eefng s\u1eeda \u0111\u1ed5i quan tr\u1ecdng \u0111\u1ed1i v\u1edbi d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m l\u00e0 m\u1ed9t \u201csai l\u1ea7m l\u1edbn\u201d, v\u00e0 ng\u01b0\u1eddi k\u1ebf nhi\u1ec7m \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eed c\u1ee7a \u00f4ng \u0111\u1ec1 ngh\u1ecb t\u1ea1m d\u1eebng b\u00e1o c\u00e1o h\u00e0ng th\u00e1ng v\u00e0 chuy\u1ec3n sang ph\u00e1t h\u00e0nh h\u00e0ng qu\u00fd cho \u0111\u1ebfn khi v\u1ea5n \u0111\u1ec1 thu th\u1eadp d\u1eef li\u1ec7u \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n. H\u01a1n n\u1eefa, vi\u1ec7c s\u1eeda \u0111\u1ed5i \u0111i\u1ec3m chu\u1ea9n h\u00e0ng n\u0103m c\u1ee7a C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng d\u1ef1a tr\u00ean h\u1ed3 s\u01a1 thu\u1ebf b\u1ea3o hi\u1ec3m th\u1ea5t nghi\u1ec7p c\u0169ng \u0111\u00e3 ch\u1ee9ng ki\u1ebfn \u200b\u200bnh\u1eefng \u0111i\u1ec1u ch\u1ec9nh th\u01b0\u1eddng xuy\u00ean v\u00e0 \u0111\u00e1ng k\u1ec3 trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y. \u01af\u1edbc t\u00ednh s\u01a1 b\u1ed9 v\u00e0o th\u00e1ng 9 cho th\u1ea5y s\u1ed1 li\u1ec7u vi\u1ec7c l\u00e0m \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m k\u1ef7 l\u1ee5c trong n\u0103m k\u1ebft th\u00fac v\u00e0o th\u00e1ng 3, v\u1edbi k\u1ebft qu\u1ea3 cu\u1ed1i c\u00f9ng s\u1ebd \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 v\u00e0o \u0111\u1ea7u n\u0103m t\u1edbi. T\u00ecnh tr\u1ea1ng n\u00e0y \u0111\u00e3 thu h\u00fat s\u1ef1 ch\u1ec9 tr\u00edch t\u1eeb c\u00e1c th\u00e0nh vi\u00ean \u0110\u1ea3ng C\u1ed9ng h\u00f2a trong Qu\u1ed1c h\u1ed9i.<\/p>\n

<\/a>T\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan c\u1ee7a Fed trong b\u1ed1i c\u1ea3nh k\u1ef3 v\u1ecdng ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t<\/strong><\/p>\n

Sau khi c\u00f4ng b\u1ed1 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m v\u00e0 doanh s\u1ed1 b\u00e1n l\u1ebb, th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh \u0111\u00e3 ph\u1ea3n \u1ee9ng nhanh ch\u00f3ng. H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai c\u1ee7a c\u00e1c qu\u1ef9 li\u00ean bang ch\u1ec9 ra r\u1eb1ng x\u00e1c su\u1ea5t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 1 n\u0103m sau \u0111\u00e3 t\u0103ng t\u1eeb 22% l\u00ean 31%, trong khi th\u1ecb tr\u01b0\u1eddng v\u1eabn duy tr\u00ec k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t hai l\u1ea7n v\u00e0o n\u0103m 2026, d\u1eabn \u0111\u1ebfn vi\u1ec7c n\u1edbi l\u1ecfng t\u1ed5ng c\u1ed9ng 58 \u0111i\u1ec3m c\u01a1 b\u1ea3n trong n\u0103m. Tr\u00ean th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7, ch\u1ec9 s\u1ed1 \u0111\u1ed3ng \u0111\u00f4 la l\u1ea7n \u0111\u1ea7u ti\u00ean gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi m\u1ed1c 98 k\u1ec3 t\u1eeb ng\u00e0y 6\/10, tr\u01b0\u1edbc khi ph\u1ee5c h\u1ed3i nhanh ch\u00f3ng; v\u00e0ng giao ngay t\u0103ng nhanh tr\u00ean 4310 USD\/ounce v\u00e0 c\u00e1c \u0111\u1ed3ng ti\u1ec1n kh\u00f4ng ph\u1ea3i c\u1ee7a M\u1ef9 nh\u00ecn chung m\u1ea1nh l\u00ean. Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 tr\u00e1i phi\u1ebfu c\u0169ng cho th\u1ea5y ph\u1ea3n \u1ee9ng ph\u1ed1i h\u1ee3p, v\u1edbi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n M\u1ef9 t\u0103ng v\u00e0 l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 2 n\u0103m gi\u1ea3m, ph\u1ea3n \u00e1nh k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 vi\u1ec7c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang n\u1edbi l\u1ecfng h\u01a1n n\u1eefa.<\/p>\n

\"h\u00ecnh<\/p>\n

Vi\u1ec7c gi\u1ea3i th\u00edch nh\u1eefng t\u00e1c \u0111\u1ed9ng ch\u00ednh s\u00e1ch \u0111\u1eb1ng sau d\u1eef li\u1ec7u l\u00e0 kh\u00e1c nhau gi\u1eefa c\u00e1c b\u00ean kh\u00e1c nhau. Yared, quy\u1ec1n Ch\u1ee7 t\u1ecbch H\u1ed9i \u0111\u1ed3ng C\u1ed1 v\u1ea5n Kinh t\u1ebf Nh\u00e0 Tr\u1eafng, tr\u1ea5n an th\u1ecb tr\u01b0\u1eddng r\u1eb1ng t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p gia t\u0103ng l\u00e0 \u201ckh\u00f4ng \u0111\u00e1ng k\u1ec3 v\u1ec1 m\u1eb7t th\u1ed1ng k\u00ea\u201d v\u00e0 kh\u00f4ng n\u00ean gi\u1ea3i th\u00edch qu\u00e1 m\u1ee9c. Tuy nhi\u00ean, nh\u00e0 ph\u00e2n t\u00edch Anstey ch\u1ec9 ra r\u1eb1ng s\u1ef1 gia t\u0103ng t\u1ef7 l\u1ec7 tham gia l\u1ef1c l\u01b0\u1ee3ng lao \u0111\u1ed9ng c\u00f3 ngh\u0129a l\u00e0 t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p cao h\u01a1n kh\u00f4ng nh\u1ea5t thi\u1ebft l\u00e0 tin x\u1ea5u v\u00e0 c\u1ea7n c\u00f3 ph\u00e1n \u0111o\u00e1n to\u00e0n di\u1ec7n d\u1ef1a tr\u00ean d\u1eef li\u1ec7u c\u1ee5 th\u1ec3. Nick Timiraos, th\u01b0\u1eddng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u201cng\u01b0\u1eddi ph\u00e1t ng\u00f4n c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang\u201d, \u0111\u00e3 \u0111\u01b0a ra m\u1ed9t ph\u00e2n t\u00edch th\u1eadn tr\u1ecdng h\u01a1n: t\u00ednh \u0111\u1ebfn th\u00e1ng 11, khu v\u1ef1c t\u01b0 nh\u00e2n \u0111\u00e3 t\u1ea1o ra trung b\u00ecnh 44.000 vi\u1ec7c l\u00e0m m\u1edbi m\u1ed7i th\u00e1ng trong s\u00e1u th\u00e1ng qua, t\u1ed1c \u0111\u1ed9 tuy\u1ec3n d\u1ee5ng ch\u1eadm nh\u1ea5t trong chu k\u1ef3 m\u1edf c\u1eeda tr\u1edf l\u1ea1i sau \u0111\u1ea1i d\u1ecbch, trong khi t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p \u0111\u00e3 t\u0103ng t\u1eeb 4,440% trong th\u00e1ng 9 l\u00ean 4,573%, g\u1ea7n v\u1edbi gi\u1edbi h\u1ea1n tr\u00ean trong d\u1ef1 \u0111o\u00e1n tr\u01b0\u1edbc \u0111\u00f3 c\u1ee7a Ch\u1ee7 t\u1ecbch Fed Powell v\u1ec1 \u201cch\u1ec9 t\u0103ng th\u00eam 0,1-0,2 \u0111i\u1ec3m ph\u1ea7n tr\u0103m.\u201d<\/p>\n

C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang hi\u1ec7n \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi m\u1ed9t v\u1ea5n \u0111\u1ec1 nan gi\u1ea3i v\u1ec1 ch\u00ednh s\u00e1ch kinh \u0111i\u1ec3n: m\u1ed9t m\u1eb7t, vi\u1ec7c tuy\u1ec3n d\u1ee5ng ch\u1eadm l\u1ea1i v\u00e0 t\u0103ng tr\u01b0\u1edfng ti\u1ec1n l\u01b0\u01a1ng ch\u1eadm l\u1ea1i \u0111\u00f2i h\u1ecfi ph\u1ea3i c\u00f3 c\u00e1c ch\u00ednh s\u00e1ch n\u1edbi l\u1ecfng \u0111\u1ec3 ng\u0103n ch\u1eb7n s\u1ef1 suy y\u1ebfu h\u01a1n n\u1eefa c\u1ee7a n\u1ec1n kinh t\u1ebf; m\u1eb7t kh\u00e1c, ph\u1ea3i c\u1ea3nh gi\u00e1c tr\u01b0\u1edbc r\u1ee7i ro l\u1ea1m ph\u00e1t cao dai d\u1eb3ng v\u00e0 tr\u00e1nh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t s\u1edbm c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn s\u1ef1 ph\u1ee5c h\u1ed3i gi\u00e1 c\u1ea3. Ira Jersey, chi\u1ebfn l\u01b0\u1ee3c gia l\u00e3i su\u1ea5t ng\u01b0\u1eddi M\u1ef9, ch\u1ec9 ra r\u1eb1ng t\u0103ng tr\u01b0\u1edfng ti\u1ec1n l\u01b0\u01a1ng ch\u1eadm l\u1ea1i l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u quan tr\u1ecdng, nh\u01b0ng Fed c\u00f3 th\u1ec3 c\u1ea7n ph\u1ea3i \u0111\u1ee3i d\u1eef li\u1ec7u v\u1ec1 b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p v\u00e0 doanh s\u1ed1 b\u00e1n l\u1ebb th\u00e1ng 12 tr\u01b0\u1edbc khi \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch ti\u1ebfp theo. Trong tr\u01b0\u1eddng h\u1ee3p d\u1eef li\u1ec7u kh\u00f4ng c\u00f3 nh\u1eefng thay \u0111\u1ed5i xu h\u01b0\u1edbng r\u00f5 r\u00e0ng, l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n c\u00f3 th\u1ec3 s\u1ebd v\u1eabn n\u1eb1m trong ph\u1ea1m vi gi\u1edbi h\u1ea1n. \u0110i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 v\u1eabn c\u00f3 nh\u1eefng t\u00edn hi\u1ec7u t\u00edch c\u1ef1c tr\u00ean th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m. \u0110\u1ea7u ng\u00e0y h\u00f4m nay, b\u00e1o c\u00e1o vi\u1ec7c l\u00e0m h\u00e0ng tu\u1ea7n c\u1ee7a ADP cho th\u1ea5y sau 4 tu\u1ea7n m\u1ea5t vi\u1ec7c, ho\u1ea1t \u0111\u1ed9ng tuy\u1ec3n d\u1ee5ng \u0111\u00e3 ph\u1ee5c h\u1ed3i. Trong 4 tu\u1ea7n k\u1ebft th\u00fac v\u00e0o ng\u00e0y 29 th\u00e1ng 11 n\u0103m 2025, c\u00e1c c\u00f4ng ty t\u01b0 nh\u00e2n Hoa K\u1ef3 \u0111\u00e3 t\u1ea1o th\u00eam trung b\u00ecnh 16.250 vi\u1ec7c l\u00e0m m\u1ed7i tu\u1ea7n, n\u00eau b\u1eadt kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i c\u1ee7a th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m trong n\u1eeda cu\u1ed1i th\u00e1ng 11. Tuy nhi\u00ean, d\u1eef li\u1ec7u n\u00e0y l\u00e0 s\u01a1 b\u1ed9 v\u00e0 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh khi c\u00f3 d\u1eef li\u1ec7u m\u1edbi.<\/p>\n

\"h\u00ecnh<\/p>\n

<\/a>\u0110i\u1ec1u h\u01b0\u1edbng kinh t\u1ebf trong s\u01b0\u01a1ng m\u00f9 d\u1eef li\u1ec7u<\/strong><\/p>\n

Th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m Hoa K\u1ef3 hi\u1ec7n \u0111ang \u1edf gi\u1eefa nhi\u1ec1u m\u00e2u thu\u1eabn: t\u0103ng tr\u01b0\u1edfng vi\u1ec7c l\u00e0m trong th\u00e1ng 11 t\u1ed1t h\u01a1n mong \u0111\u1ee3i c\u00f9ng v\u1edbi s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m k\u1ef7 l\u1ee5c c\u1ee7a d\u1eef li\u1ec7u th\u00e1ng 10; \u0111\u1ed9 ch\u00ednh x\u00e1c \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n t\u1eeb c\u00e1c c\u01a1 ch\u1ebf thu th\u1eadp d\u1eef li\u1ec7u \u0111\u01b0\u1ee3c t\u1ed1i \u01b0u h\u00f3a s\u1ebd kh\u00f4ng ph\u00f9 h\u1ee3p v\u1edbi s\u1ef1 m\u1ea5t m\u00e1t v\u1ec1 t\u00ednh k\u1ecbp th\u1eddi; v\u00e0 k\u1ef3 v\u1ecdng ng\u00e0y c\u00e0ng t\u0103ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 vi\u1ec7c n\u1edbi l\u1ecfng \u0111ang t\u1ea1o ra c\u0103ng th\u1eb3ng gi\u1eefa vi\u1ec7c ki\u1ec1m ch\u1ebf ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, vi\u1ec7c ch\u1ec9 d\u1ef1a v\u00e0o d\u1eef li\u1ec7u t\u1eebng th\u00e1ng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 xu h\u01b0\u1edbng kinh t\u1ebf kh\u00f4ng c\u00f2n \u0111\u00e1ng tin c\u1eady n\u1eefa; h\u1ecd ph\u1ea3i \u0111\u1ed3ng th\u1eddi ch\u00fa \u00fd \u0111\u1ebfn xu h\u01b0\u1edbng s\u1eeda \u0111\u1ed5i d\u1eef li\u1ec7u, \u0111i\u1ec1u ch\u1ec9nh ph\u01b0\u01a1ng ph\u00e1p th\u1ed1ng k\u00ea v\u00e0 nh\u1eefng thay \u0111\u1ed5i v\u1ec1 nhu c\u1ea7u th\u1ef1c t\u1ebf \u1edf c\u1ea5p ng\u00e0nh.<\/p>\n

Trong nh\u1eefng th\u00e1ng t\u1edbi, khi c\u00e1c b\u1ea3n s\u1eeda \u0111\u1ed5i d\u1eef li\u1ec7u h\u00e0ng n\u0103m \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1, c\u00e1c cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang di\u1ec5n ra v\u00e0 nh\u1eefng t\u00e1c \u0111\u1ed9ng li\u00ean k\u1ebft gi\u1eefa th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m v\u00e0 chi ti\u00eau c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng tr\u1edf n\u00ean r\u00f5 r\u00e0ng h\u01a1n, b\u1ee9c tranh ch\u00e2n th\u1ef1c v\u1ec1 n\u1ec1n kinh t\u1ebf M\u1ef9 s\u1ebd d\u1ea7n tr\u1edf n\u00ean r\u00f5 r\u00e0ng. Li\u1ec7u C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang c\u00f3 th\u1ec3 t\u00ecm ra s\u1ef1 c\u00e2n b\u1eb1ng gi\u1eefa \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng v\u00e0 ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t hay kh\u00f4ng s\u1ebd kh\u00f4ng ch\u1ec9 quy\u1ebft \u0111\u1ecbnh h\u01b0\u1edbng \u0111i c\u1ee7a ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t m\u00e0 c\u00f2n t\u00e1c \u0111\u1ed9ng s\u00e2u s\u1eafc \u0111\u1ebfn b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u. Trong s\u1ef1 t\u01b0\u01a1ng t\u00e1c gi\u1eefa d\u1eef li\u1ec7u v\u00e0 ch\u00ednh s\u00e1ch n\u00e0y, vi\u1ec7c quan s\u00e1t c\u1ea9n th\u1eadn v\u00e0 ph\u00e2n t\u00edch \u0111a chi\u1ec1u s\u1ebd r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 \u0111\u1ecbnh h\u01b0\u1edbng h\u01b0\u1edbng \u0111i c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>","protected":false},"excerpt":{"rendered":"

D\u1eef li\u1ec7u vi\u1ec7c l\u00e0m c\u1ee7a Hoa K\u1ef3 cho th\u1ea5y nh\u1eefng t\u00edn hi\u1ec7u l\u1eabn l\u1ed9n nh\u01b0 t\u0103ng tr\u01b0\u1edfng ti\u1ec1n l\u01b0\u01a1ng, s\u1eeda \u0111\u1ed5i d\u1eef li\u1ec7u v\u00e0 tranh lu\u1eadn v\u1ec1 vi\u1ec7c gi\u1ea3m l\u01b0\u01a1ng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a Fed v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng kinh t\u1ebf.<\/p>","protected":false},"author":1,"featured_media":8913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[476,474,475],"class_list":["post-8912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-federal-reserve-policy","tag-nonfarm-payrolls","tag-us-job-market"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/8912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/comments?post=8912"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/8912\/revisions"}],"predecessor-version":[{"id":8918,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/8912\/revisions\/8918"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/8913"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=8912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=8912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=8912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}