US Interest Rate Forecast: Changes After Positive Labor Market Data
The US added 254,000 jobs in September, significantly exceeding the expected 140,000.
August job growth was revised from 142,000 to 159,000.
The unemployment rate fell to 4.1%, better than the previous rate of 4.2%.
Average hourly earnings rose by 0.4% monthly, above the expected 0.3%, with annual wage growth at 4.0%.
Following the data release, the probability of a 25 basis point interest rate cut rose to 94.8%, while expectations to keep rates unchanged dropped to 5.2%.
