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Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown

Job growth in the US was stronger than expected in September, with nonfarm payrolls increasing by 336,000, surpassing the Dow Jones consensus estimate of 170,000. The unemployment rate was 3.8%, higher than the forecast of 3.7%. The stock market reacted negatively to the report, with futures falling and Treasury yields rising. Wage increases were softer than expected, but the odds of a rate increase before the end of the year increased to about 44%. The leisure and hospitality sector led in job growth, while service-related industries contributed significantly. The report comes amid concerns about inflation and the Federal Reserve's monetary policy.

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Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown

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