Fed Chair Janet Yellen has said the economy needs to create less than 100,000 jobs a month to keep up with population growth. Economists polled by Reuters had expected employers to add 175,000 jobs last month, with the jobless rate holding steady. Three Fed policymakers voted for a hike last month when the central bank kept rates steady. However, Friday's data could boost the case of Fed officials who have vocally defended a go-slow approach to rate increases. "We're seeing exactly what we want to see in the economy, which is continued steady job growth, it brings people back (into the labor force), that's driving up wages, and that's a good thing," Furman said.

Source: The Edge Markets October 07, 2016 13:07 UTC