The September jobs report was stronger than expected and is likely to assuage recession fears, driving up hopes for soft landing or no landing economic scenarios.

The Bureau of Labor Statistics employment data shows that the American job market picked up in September with the unemployment rate declining slightly to 4.1%. The report shows employers added 254,000 jobs,

Stronger-than-expected job growth could reaffirm the market’s expectation the Fed will slow its future rate cuts to a quarter-point each, following a half-point reduction at its September meeting. Softer growth could do the opposite,