An American flag above employees at a factory in Wichita, Kansas. Photographer: Luke Sharrett/Bloomberg.
U.S. employment unexpectedly surged in September, illustrating a durable labor market and bolstering the case for another Federal Reserve interest rate hike.
Nonfarm payrolls increased by 336,000 last month—the most since the start of the year—after sizable upward revisions to the prior two months, a Bureau of Labor Statistics (BLS) report showed Friday. The unemployment rate held at 3.8 percent, and wages rose at a modest pace.
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