Analyst: September nonfarm payrolls support the Fed pausing rate hikes

Odaily reports: Brian Jacobsen, Chief Economic Strategist at Annex Wealth Management, stated that the U.S. job market is not as strong as initially believed. July's data was revised down to negative growth, and while August saw a decent rebound, that momentum came to an abrupt halt in September, with only 29,000 jobs added. The employment diffusion index fell back below 50. Fed Chair Warsh had previously been concerned about the breadth of inflation, but now he will have to consider the lack of breadth in the job market. This data supports pausing rate hikes in October. (Jinshi)