The number of jobs the U.S. economy added in September was so high markets fell. But what happened after was a lesson in looking beyond the headline number.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribein September. That's almost two times the Dow Jones consensus estimate of 170,000 and over 100,000 more than the previous month — which was upwardly revised by 40,000. But the unemployment rate held steady at 3.8% against the forecast of 3.7%, while wages grew 0.
Economists were expecting job creation to slow from 227,000 in August to 170,000 in September. Instead, the shocker of a jobs report said nonfarm payrolls increased by 336,000 last month, the most since January. Markets slumped on the news.
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