<p><span style="font-size:inherit;"><span data-teams="true"><strong>GLOBAL: US hiring slowed in September, with nonfarm payrolls increasing by a mere 29,000 for the month.</strong> Government hiring slowed notably due to seasonal adjustments.&nbsp;</span></span></p>

<p><span style="font-size:inherit;"><span data-teams="true"><strong>Market impact: US equities rose and the dollar weakened on soft jobs data</strong> cooling rate hike bets, while Treasury yields climbed amid persistent inflation fears.</span></span></p>

<p><span style="font-size:inherit;"><span data-teams="true"><strong>The labor market will remain challenged by the no-hire, no-fire environment,</strong> though demand in healthcare and government will keep the jobs market afloat.</span></span></p>

<p><span style="font-size:inherit;"><span data-teams="true"><strong>LOCAL: A recent BusinessWorld poll shows that headline inflation for September is expected to rise to 6.7% year-on-year&nbsp;</strong>due to soaring global oil prices, severe weather, and a weak peso.&nbsp;</span></span></p>

<p><span style="font-size:inherit;"><span data-teams="true"><strong>Market impact: The PSEi edged lower amid persistent economic headwinds,</strong> while the peso strengthened ahead of US labor market data.</span></span></p>

<p><span style="font-size:inherit;"><span data-teams="true"><strong>Metrobank projects higher September inflation,</strong> driven by weather-induced supply constraints on agricultural goods and geopolitical tensions that pushed Brent crude above USD 100 per barrel.</span></span></p>