US Adds 336,000 Jobs in September, Far Above Expectations; Stocks Tumble as Strong Report Signals Fed Will Keep Raising Rates

US job growth surged in September, adding 336,000 jobs, far higher than expected and above August's total of 227,000.

Stock futures tumbled after the strong jobs report, as it could mean the Fed will keep interest rates higher for longer to cool the economy.

Labor force participation increased to 62.8% in August, the highest since the pandemic began, as more people return to work.

President Biden will tout the strong jobs market and manufacturing growth, though polls show Americans still trust Trump more on the economy.

Economists forecast 170,000 jobs were added in September and the unemployment rate edged down to 3.7%, though the GM and Ford strikes may not fully show up yet.