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September Jobs Report: A Pivotal Moment for the U.S. Economy and Federal Reserve
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Set for release today, the September Non-Farm Payrolls report has greater significance as the Federal Reserve considers labor market hazards against inflation.
While the unemployment rate is predicted to stay constant at 4.3%, analysts expect 52,000 new jobs, a tepid increase from August's poor 22,000 increase.
With a 3.7% annualized wage growth, average hourly wages are projected to increase by 0.3% month over month.
ADP private payroll data pointed to a contraction of 32,000 jobs for September, which raised concerns of a more-than-expected economic slowdown in the general labor market.
High stakes call for today's report to be a barometer for the next several months.