US JOB GROWTH BLOWS PAST EXPECTATIONS, UNEMPLOYMENT RATE FALLS TO 4.1%

U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not need the Federal Reserve to deliver large interest rate cuts for the rest of this year.

In addition to the better-than expected increase in nonfarm payrolls, wages rose at a solid pace last month. The economy added 72,000 more jobs in July and August than previously estimated.

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