BLS修订数据显示，二季度美国非农商业部门劳动份额降至52.8%，创1947年有记录以来最低；同期劳动生产率同比增长2.2%，单位劳动力成本仅增长1.4%，实际小时薪酬则下降0.1%。 劳动份额下降并不意味着工资绝对减少，而是劳动者薪酬的增长速度慢于企业产出。 当生产率提升、单位劳动力成本又保持受控时，企业可以用相近的工资成本创造更多产出，新增价值便有更大空间流向利润和资本回报。 这一变化并非始于AI。美国劳动份额已下降数十年，背后包括全球化和产业外包、自动化替代、工会议价能力下降，以及企业集中度和市场力量上升。IMF研究认为，在发达经济体，技术进步是劳动份额下降的主要因素，全球价值链扩张也通过转移劳动密集型环节削弱了劳动者份额。

美国8月就业参与率 61.6%，预期61.4%，前值61.40%。

National Healthcare Security Administration deputy director Huang Huabo said on the 4th at a State Council press briefing that authorities will roll out measures to ease employee medical insurance access for flexible-employment workers, who frequently change jobs and locations. Measures include continuing to push mega-cities to fully remove household-registration limits that tie insurance enrollment to employment location or residence; exploring conversion of consecutive participation years in resident medical insurance into local employee medical insurance years; and allowing employee medical insurance contribution years to be accumulated monthly so fragmented payments count toward the required contribution period. Once individuals meet statutory retirement age and the contribution-year requirement, they will be eligible for retirement medical insurance benefits.