September's 245,000 new jobs topped consensus forecasts by about 100,000. This means the Fed can probably slow the pace of rate cuts, economists said.

Pantheon Economics cited a "red flag" in September's jobs market data, and expects that the Fed to deliver more 50 basis point cuts.

The U.S. economy likely maintained a moderate pace of job growth in September while the unemployment rate is expected to have held steady at 4.2%.

The Labor Department said on Friday that the economy created 254,000 jobs in September, smashing Wall Street expectations and giving another boost to the Federal Reserve looking to ease off on the cou

"On the face of this the Fed should be hiking rates with these sorts of figures, not cutting rates," Economist James Knightley said.

The big 254,000 increase in new jobs in September is almost certainly not going to be repeated in October, economists say. How come? For starters, a strike by 33,000 Boeing employees could hold down the headline jobs number.

U.S. job growth accelerated in September and the unemployment slipped to 4.1%, further reducing the need for the Federal Reserve to maintain large interest rate cuts at its remaining two meetings this year.