Payrolls increased by 336,000 in September, much more than expected
Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington.
Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. The unemployment rate was 3.8%, compared to the forecast for 3.7%.
Average hourly earnings increase 0.2% for the month and 4.2% from a year ago, compared to respective estimates for 0.3% and 4.3%.
Stock market futures turned sharply negative following the report and Treasury yields jumped.
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