New York — The US dollar and government debt yields jumped on Friday after strong gains in hourly wages unveiled in the US government’s jobs report for September boosted the likelihood the US Federal Reserve will raise interest rates by year’s end. US employment fell in September for the first time in seven years as Hurricanes Harvey and Irma temporarily displaced workers and delayed hiring, the latest sign the storms undercut economic activity in the third quarter. Average hourly earnings increased 12c, or 0.5%, in September after rising 0.2% a month earlier. The gains came as non-farm payrolls fell by 33,000 jobs last month against expectations of a jobs gain of 90,000. The yield on two-year US treasury notes soared to their highest in nine years, while the dollar hit an almost three-month high against the Japanese yen and almost a two-month high against the euro. The jump in average hourly earnings surprised investors who were aware the headline employment number would be distort...
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