Jobs
US Hiring Surges, Bolstering Case for Another Fed Rate Hike
- Payrolls jumped 336,000 in September, topping all forecasts
- Unemployment rate held at 3.8%, wages rose less than estimated
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US employment unexpectedly surged in September, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.
Nonfarm payrolls increased 336,000 last month — the most since the start of the year — after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and wages rose at a modest pace.