Strong September Jobs Report Beats Expectations But Moderating Wages May Ease Fed Rate Hike Concerns

Employers added 336,000 jobs in September, sharply more than economists predicted, indicating the labor market remains strong.

Wage growth continued to moderate with a 0.2% monthly increase, which could ease Fed concerns about upward inflationary pressure.

The unemployment rate ticked up slightly to 3.8%, which Fed Chair Powell said could help rebalance the labor market.

Long-term interest rates have risen sharply, which may cool economic growth and hiring on its own before the Fed's next meeting.

The Fed will receive fresh inflation data on Oct. 12th ahead of their next rate decision on Oct. 31st-Nov. 1st.