MICHAEL FEROLI: It was pretty broad-based. Going one layer deeper, I want to ask, is the strength broad-based, or was it really concentrated in certain pockets? So in spite of this really strong job growth, you're seeing kind of steady measures of labor market slack and some modest slowing in wage inflation. So the unemployment rate, after it jumped in August, held on steady, held unchanged at 3.8% last month, and average hourly earnings actually came in a little softer, at only a 2/10 gain. Away from that obviously big surprise, most of the other details were actually more in line with expectations. MICHAEL FEROLI: Well, obviously it's kind of hard to ignore the smashing 336,000 increase, which was about double most people's expectations and really broke the trend of slowing job growth that had prevailed up until this report. And that is, what was your take on the jobs report? Do you want to highlight anything you thought was especially of note? SAM AZZARELLO: So Mike, I'm going to start where we always start. Mike, thanks so much for returning to the podcast. economist, to talk about the September jobs report. I'm joined today by Michael Feroli, our chief U.S. My name is Sam Azzarello, and I lead content strategy for global research. SAM AZZARELLO: Welcome to Research Recap. Please enter a valid search, no special characters allowed.
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