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. 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,

Famed economist Larry Summers said Friday that the September jobs report shows the Federal Reserve's 50-basis point rate cut was "a mistake," in hindsight.