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US non-farm payrolls for September disappoint: New jobs increased by 119,000, more than doubling expectations.
The U.S. Department of Labor just released the September US Non-farm Payrolls (NFP) data, and the results are quite impressive—an increase of 119,000 jobs, which far surpasses the market expectation of 53,000 and exceeds last month's 22,000. With this number coming out, it is likely to make the Fed reassess the pace of interest rate cuts.