October 06, 2023
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.
A message brought to you by RTX
Brilliant new ideas can come from everywhere. That’s why we invest heavily in STEM education, helping build a career-ready, diverse talent pipeline to tackle tomorrow’s most complex challenges. Learn more at RTX.com
