Jobs report ‘strengthens’ rate hike case, doesn’t guarantee it: Economist

The September jobs report came in hotter than expected, with 336,000 jobs added to the U.S. economy. What does this mean for the Federal Reserve's future rate hikes? Citi Global Economist Robert Sockin joins Yahoo Finance Live to discuss. "On balance, it puts the Fed in a difficult spot because, on the one hand, they’re seeing very strong labor demand and very strong hiring," Sockin says, "[and] on the other hand, you also saw wage growth come in a bit softer than expected." Sockin believes that while the jobs report encourages the case for another rate hike, "it doesn’t guarantee it given that you’re getting some mixed signals on the wage side, and you’ve had this big rise in long time yields that is doing some of the work for the Fed." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.