As expected, September non-farm payrolls rebounded, rising by a slightly higher than expected 110,000 jobs in September. The unemployment rate jumped by 0.1% to 4.7% and average hourly earnings rose by $0.07 or 0.4% to $17.57 per hour. In addition, the August payrolls figure was revised upward to 89,000 jobs created, well above the 4,000 jobs lost originally reported. Manufacturing jobs declined once again this time by 18,000 jobs. The construction industry also lost 14,000 jobs in September. Service sector showed the biggest jump in hiring’s, with 143,000 jobs added.

Market reactions after the report include a sharp drop in Bond prices, with the December 30-year Bonds down 0-25, at 111-10. Stock indices reacted favorably, with the December e-mini S&P 500 up 10.75, to stand at 1563.00. The U.S. Dollar was sharply higher vs. Euro and Yen, and Gold prices fell sharply.

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