Strong September Job Growth Defies Recession Fears, But Modest Wage Gains May Reassure Fed

Employers added 336,000 jobs in September, far exceeding forecasts and showing the job market is still strong.

Wage growth remained modest in September despite the job gains, suggesting inflation may not accelerate.

The unemployment rate held at 3.8% in September, still very low historically, though rising slightly for African Americans.

The September data was collected before recent strikes began, so impact of autoworker and Hollywood writer strikes won't show until October.

Strong job growth could make the Fed's efforts to control inflation harder, though modest wage gains may reassure them.