Odaily Planet Daily News: Huatai Securities said that the September nonfarm payroll report came in below expectations, reducing the urgency of the Federal Reserve to continue raising interest rates in the near term. Since nonfarm payrolls can be volatile on a month-to-month basis, using a three-month moving average, new nonfarm jobs were 51,000, around the balanced employment level. Coupled with the unemployment rate still remaining low, this suggests that the labor market remains relatively stable, though it is hard to characterize as tense. With weaker nonfarm data in September, along with slowing wage growth, actual income growth in September likely eased further, and residents’ consumption may also be difficult to sustain the strong performance seen in August. Looking ahead, forward-looking indicators from the NFIB hiring intentions suggest that October nonfarm payrolls may still be weak, but thereafter nonfarm payrolls could rebound somewhat. Therefore, Huatai Securities believes the Federal Reserve is unlikely to raise rates consecutively in October; under the baseline scenario, it will raise rates again in December. (Jinshi)