U.S. Job Growth Soars in September; Unemployment Steady at 3.8%
- Nonfarm payrolls increase 336,000 in September, much higher than expected
- Unemployment rate unchanged at 3.8%
- Average hourly earnings rise 0.2%; up 4.2% year-on-year, slowing from previous months
- Job growth broad-based across industries like leisure/hospitality, healthcare, construction
- Persistent labor market strength gives Fed ammunition to raise interest rates further
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