The job market continues to confound the expectations of economists with 336,000 jobs added in September, the Labor Department reported on Friday. The unemployment rate, meanwhile, remained unchanged at 3.8%. “We expect that this era of interest rate hikes is nearing its end, likely allowing the jobs market to level out. Thursday’s report on weekly unemployment claims came in largely in line with estimates and consistent with a steady labor market. “Labor market conditions have substantially normalized from their peak tightness in early 2022,” Lydia Boussour, EY senior economist, said ahead of the jobs report’s release.

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Persons: ”, Steve Rick, ” Lydia Boussour, EY, Steven Kyle, Cornell University’s Charles H Organizations: Labor Department, Federal Reserve, TruStage, ADP, Labor, Cornell University’s, Dyson, Applied Economics, Management, United Auto Workers