The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in 43 months as more people found work. This might have an impact on undecided voters in the final month before the presidential election.
Employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated.
Wages rose in September and more people started looking for work.
Revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.
European stocks are higher in morning trade and Asian markets closed higher.
The national average price of gasoline is up five-tenths of a cent to $3.789 per gallon.
0830 ET Sep non-farm payrolls expected +115,000, Aug +96,000. Sep private payrolls expected +128,000, Aug +103,000. Sep manufacturing payrolls expected unch, Aug was -15,000. Sep unemployment rate expected +0.1 to 8.2%, Aug -0.2 to 8.1%.
0830 ET Sep average hourly earnings expected +0.2% m/m and +1.8% y/y, Aug unch m/m and +1.7% y/y. Sep average weekly hours expected 34.4 hours, Aug 34.4.
1000 ET NY Fed President William Dudley delivers welcoming remarks at distressed real estate conference at the NY Fed.
1300 ET Fed Governor Elizabeth Duke speaks on neighborhood stabilization at NY Fed.
1500 ET Aug consumer credit expected +$7.25 bln, July -$3.276 bln.