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.

The U.S. jobs report has overtaken inflation as the chief worry of the Federal Reserve as it plots how fast to cut interest rates.

The U.S. central bank's half-percentage-point interest rate cut last month was an acknowledgement that its policy rate was "out of sync" with where the economy stands, but shouldn't be taken as a sign that the battle with inflation is finished,