Follow along as MarketWatch analyzes the September jobs report that is set for release by the Labor Department.
A way stronger-than-expected September jobs report is going to force the Federal Reserve to raise interest rates again this year, right? Not so fast. The 336,000 gain in new jobs was twice as large as expected. And job gains in August and July were bigger on second look. But the Fed is worried most about inflation, not employment per se. Senior officials have actually come around to the idea that they can slow inflation without a big increase in unemployment.
3%, and it's down from a recent peak of 5.9% in early 2022. Just before the pandemic, hourly wages were rising around 3.3% -and there was nary a hint of rising inflation. Before its next big meeting on Oct. 31-Nov. 1 , the Fed will get to see a few more inflation reports to help it decide. What could also sway the Fed is the recent surge in bond yields that's made it more expensive to take out longer-term loans.
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