The US economy added 336,000 jobs in September, highlighting concern that the labor market isn't cooling as fast as the Federal Reserve would like in its battle against inflation.
Wages, a closely watched indicator of how much leverage workers are exerting in the labor market, rose less than expected last month, rising 0.2% on a monthly basis and 4.2% over last year. Economists expected wages to rise 0.3% over last month and 4.3% over last year. "Evidence that the tightness in the labor market is no longer easing could also call for a monetary policy response," Powell said in a speech at the Jackson Hole Economic Symposium.
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