Strong Job Growth Continues in September, But Wage Growth Stays Subdued

U.S. employers added 336,000 jobs in September, exceeding expectations and showing no signs of slowing despite Fed interest rate hikes.

Wage growth remained muted on a monthly basis, with average hourly earnings rising just 0.2% from August to September.

The unemployment rate held steady at 3.8% as the labor force expanded along with job growth.

The data presents conflicting signals for the Fed, with strong job growth but contained wages, fueling debate over the need for further rate hikes.

Bond yields spiked after the report, with the 30-year Treasury yield breaching 5% again, highlighting the risk of tighter financial conditions.