Payrolls increased by 336,000 in September, much more than expected

Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington. Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. Wage increases were softer than expected, with average hourly earnings up 0.2% for the month and 4.2% from a year ago, compared to respective estimates for 0.3% and 4.3%. Investors have been on edge lately that a resilient economy could force the Federal Reserve to keep interest rates high and perhaps even hike more as inflation remains elevated. Motion picture and sound recording jobs fell by 5,000 and are down 45,000 since May amid a labor impasse in Hollywood.