The productivity of US workers rose at its fastest pace in six years in the second quarter as employers cut staff costs, according to the labour department.

美国劳工部的数据显示，由于雇主削减员工成本，美国第二季度生产率出现6年来最大增幅。

Analysts said the higher-than-expected 6.4 per cent increase in productivity was another signal that the US economy might be emerging from recession – one that helped free the Federal Reserve to pursue aggressive monetary policy.

分析师表示，生产率高于预期的6.4%的升幅，是美国经济可能正走出衰退的又一信号。这有助于缓解美联储的担忧，使其得以推行激进的货币政策。

“The worst is over. Firms should now be able to consider keeping their workforce constant,” said Joseph Brusuelas, director of Moody's Economy.com. “Perhaps more importantly, the efficiency gains bode well for a more stable inflation environment, giving extraordinary comfort to the Fed as they consider monetary policy.”

穆迪(Moody's)旗下Economy.com网站主管约瑟夫•布鲁修拉斯(Joseph Brusuelas)表示：“最糟的时候已经过去。现在各公司应该有能力考虑维持劳动力的稳定了。或许更重要的是，生产率的上升预示将出现一个更加稳定的通胀环境，让美联储在考虑货币政策时有更宽松的余地。”

Analysts surveyed by Reuters had expected productivity to increase 5.3 per cent.

接受路透社(Reuters)调查的分析师曾预测生产率将上升5.3%。

Hours worked fell 7.6 per cent, but output decreased only 1.7 per cent. Over the past year, falling hours and output has led to an increase of 1.8 per cent in output per hour.

第二季度工作时间比第一季度减少了7.6%，但产出仅下降1.7%。在过去一年里，工作时间和产出的下降致使每小时产出增加了1.8%。

“As a pattern, productivity is holding up very well in this cycle, which tends to bode well from a long-term growth perspective,” said Alan Ruskin, chief international strategist at RBS Global Banking and Markets.

“本轮经济周期中，生产率整体保持得相当良好，这往往是长期增长前景的吉兆，”苏格兰皇家银行(RBS)环球银行及资本市场部首席国际策略师阿兰·鲁斯金(Alan Ruskin)表示。

Wages continued to fall in real terms. Taking into account inflation, compensation in the second quarter fell 1.1 per cent. But excluding inflation, non-farm business pay rose 0.2 per cent in the second quarter, compared with a 2.4 per cent decrease a quarter earlier.

实际工资继续下降。计入通胀因素，第二季度薪酬水平下降了1.1%，但若不计通胀因素，第二季度非农商业薪酬则增加了0.2%，而上一季度是下降2.4%。

“Many workers are experiencing wage freezes and taking pay cuts to keep their jobs, one of the risks to the recovery going forward,” said Mr Brusuelas.

“许多工人的薪水遭遇冻结，或是为了保住工作被迫接受减薪。这是影响经济复苏前景的风险之一，”布鲁修拉斯表示。

译者/管婧