US Job Growth Slows, Unemployment Steady at 4.1%

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The latest US Job data by the Labor Department revealed that the non-farm payroll surged by 12,000 in October, down from the revised figure of 223,000 noted in the prior month, compared to the market forecast of 110,000. The US unemployment rate remained steady at 4.1%, unchanged from the figure noted in September which also comes in line with the Wall Street expectations. The latest job data indicates a potential US Fed rate cut in November, followed by another rate cut next month.