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U.S. job growth surged in September, suggesting the labor market remains strong enough for the Federal Reserve to raise interest rates this year, though wage growth is slowing. Nonfarm payrolls increased by 336,000 jobs last month, well above expectations of 170,000, due to seasonal adjustment issues related to the return of educators after the summer break, Labor Department data showed. The U.S. auto workers' strike had no effect on payrolls because it began at the end of the government's survey of businesses for the September jobs report. Wage gains have moderated and are likely to slow as fewer people quit their jobs in search of better ones. Labor market strength is helping support the economy, which is expected to grow at a 4.9% annual rate in the third quarter.
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