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WASHINGTON (AP) — Today's employment report from the Labor Department is being closely watched for signs of a slowdown in the pace of hiring, which could, in turn, influence Federal Reserve policymakers considering an interest rate hike.
In August and September, hiring was held down as faltering global economies and a stronger dollar cut into U.S. manufacturers' overseas sales and lowered corporate profits. Worries over China's slowdown also likely spooked some employers.
Those headwinds lowered job gains to just 136,000 in August and 142,000 in September.
A survey by FactSet predicts hiring in October added 185,000 jobs. The October unemployment rate is expected to remain 5.1 percent for a third straight month.
Economists say any gain above roughly 150,000 would likely also keep Federal Reserve policymakers on track to raise interest rates in December.
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