US job growth beats expectations in September; unemployment rate unchanged at 3.8%

US job growth in September exceeded expectations, with nonfarm payrolls increasing by 336,000 jobs. This indicates a strong labor market and raises the possibility of the Federal Reserve raising interest rates this year. However, wage growth is moderating, with average hourly earnings rising 0.2% and wages increasing 4.2% over the past 12 months. Despite the positive job growth, concerns remain over soaring US Treasury yields and the impact of Americans resuming student loan repayments on consumer spending.