September's jobs picture is expected to look a lot like August's — a gradual slowdown in hiring and a modest increase in wages. Markets will be watching the report closely for indications as to whether the Fed will be able to loosen policy and lower interest rates in a gradual manner.

September’s jobs report, due out Friday morning, is expected to show that the US labor market has slowed somewhat but remains on solid footing.

The U.S. likely added a decent 150,000 jobs in September, Wall Street economists say. In August, the preliminary estimate was 142,000. Such an increase would fall well short of the 250,000-plus monthly gain in 2023, but it would be roughly the number of new jobs needed to keep the unemployment rate from rising.