Surging Jobs, Wages, Keep Fed Base Case of Quarter Point Cuts on Track

MACROECONOMICS - WASHINGTON. U.S. Federal Reserve concerns about a slowing job market were relieved for at least another month when new data on Friday showed job growth jumped and the unemployment rate fell in September, adding to investor bets the central bank will cut its benchmark rate only a quarter of a percentage point next month.

In comments this week Fed Chair Jerome Powell had noted the "tension" between steady economic growth and a perceived weakening of the job market, and said it was likely jobs data would prove a better gauge of where the economy stood.