Leaders
領導者
The American economy: Can the Trump boom last?
美國經濟:特朗普的繁榮能持久嗎?
America's president is not the architect of American strength. But in the short term, things will go his way.
特朗普不是美國增長的造就者。但是,短期內,事態是被限定在走他的路上面的。
There is often more fakery than truth in a tweet from President Donald Trump.
特朗普的推文中經常是假的多于真的。
But on one subject he is broadly right.
但是,在一個問題上,他總的來說是對的。
America's economy is in good shape.
美國經濟事態良好。
Business confidence is high.
商業信心高亢。
Jobs are plentiful.
就業崗位充裕。
Last month non-farm companies added 228,000 workers to their payrolls.
上個月,非農公司給它們的工資單上增加了228000名工人。
The unemployment rate is 4.1%, the lowest figure for more than a decade.
失業率是4.1%,為十多年來的最低數字。
The availability of jobs is drawing more of the working-age population into the labour force.
工作之可得正在吸引越來越多的勞動適齡人口加入勞動大軍。
Wages are growing in real terms with some of the biggest gains going to low-paid workers.
按照實際水平計算,工資正在增長,其中最大的所得流向了低工資工人。
Mr Trump over-eggs things, of course.
特朗普當然是要反復吹噓啦。
He claims each good jobs report and each new peak in the S&P 500 as his own achievement.
他聲稱,每一份靚麗的就業報告和標普500的每一次新高都是他的功勞。
In fact, he was lucky in his inheritance.
事實上,在遺產方面,他是幸運的。
The market has risen by 25% since his election, but is up by 195% since 2009.
自他當選以來,市場上漲了25%,但是自2009年以來上漲了195%。
The unemployment rate fell from a peak of 10% to 4.7% under Barack Obama and then to 4.1% on Mr Trump's watch.
在奧巴馬治下,失業率從高峰時的10%降到了4.7%。之后,在特朗普監護中,又降到了4.1%。
His administration says that a mix of deregulation and corporate-tax cuts will spur sustained GDP growth of 3%, well above the 2% average of recent years.
他的政府表示,去監管和消減企業稅的結合將激發出持續的3%的GDP增長,遠遠高于這幾年2%的平均水平。
As the economy approaches full employment, an astonishing pickup in productivity would be needed to accomplish that.
隨著經濟接近完全就業,為了實現這一目標,生產力方面某種令人吃驚的改善是事所必需的了。
But Trump-bashers overstate their case, too.
但是,特朗普的批評者也是言過其實了。
They dismiss the optimism of consumers and bosses as sentiment, not substance.
他們不把消費者和雇主的樂觀當回事,認為那不過是一種情緒而已,并非是實實在在的。
They warn that the stockmarket is dangerously overvalued and that America's expansion, which is in its 102nd month, must soon falter.
他們警告說,股市被危險地高估了,正處于第102個月之中的美國擴張不久必將舉步維艱。
譯文來源考研英語時事閱讀