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Scorching jobs report sends markets down, bond yields up

The U.S. economy added 336,000 jobs in September, crushing expectations of a continuing labor slowdown. The news has already added more pressure to an increasingly volatile financial market.

The Bureau of Labor Statistics reported the largest monthly total of jobs added since January this morning, and the U.S unemployment rate remains at 3.8%. Worker pay is still growing faster than inflation, with average hourly earnings increasing by 4.2% in the 12 months through September.

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Presented by Americans for Prosperity

The Tax Cuts and Jobs Act gave families $1,500 yearly, boosted small businesses, and strengthened U.S. competitiveness. Allowing it to expire would jeopardize this progress. Congress: Renew the TCJA to secure growth and prosperity for all.

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