An employee works on the production floor at a manufacturing facility in Ontario, New York. Photographer: Lauren Petracca/Bloomberg.
U.S. job growth last month topped all estimates, the unemployment rate unexpectedly declined, and wage growth accelerated, reducing the odds the Federal Reserve will opt for another big interest rate cut in November.
Non-farm payrolls increased 254,000 in September, the most in six months, following an upwardly revised 72,000 advance over the prior two months. The unemployment rate fell to 4.1 percent, and hourly earnings increased 4 percent from a year earlier, according to Bureau of Labor Statistics' (BLS's) figures released Friday.
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