Nonfarm payrolls in the US rose by 263,000 in September, according to data released Friday by the US Bureau of Labor Statistics. This reading followed August’s increase of 315,000 and came in ahead of the market expectation of 250,000.
Further details of the report revealed that the unemployment rate fell to 3.5% from 3.7% and the employment rate fell from 62.4 to 62.3%.
Finally, wage inflation, measured by average hourly wages, fell from 5.2% to 5% year on year.
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The US Dollar Index gained strength with the initial response to the US Jobs Report and last rose 0.15% on the day at 112.42.