The stock market has enjoyed a healthy rally since March because of rising unemployment. The horror of high unemployment has bolstered equities because of its impact on corporate profits. The US corporate sector has slashed costs during the past year by eliminating more than 8m jobs and trimming the working week to a record low. During the past 18 months the US economy has lost a third more jobs than predicted by econometric models on the basis of the decline in real gross domestic product.
自今年3月以來，由于失業(yè)率不斷攀升，股市呈現(xiàn)出良好的反彈態(tài)勢(shì)。高失業(yè)率之所以能提振股市，是因?yàn)樗鼘?duì)企業(yè)利潤(rùn)的影響。過去一年，美國(guó)企業(yè)大幅削減了成本——裁減逾800萬個(gè)工作崗位，將每周工作時(shí)間削減至創(chuàng)紀(jì)錄的低水平。過去18個(gè)月，美國(guó)所喪失的工作崗位，比計(jì)量經(jīng)濟(jì)模型依據(jù)實(shí)際國(guó)內(nèi)生產(chǎn)總值(GDP)降幅所計(jì)算出的數(shù)字還多出三分之一。