Federal Reserve officials are expected to cut interest rates by 25 basis points at the next week's meeting, as weak non-farm payroll data has created space to continue lowering rates. The Labor Statistics Bureau reported that last month non-farm employment increased by only 12,000 people, but these figures may be distorted due to two hurricanes and a major strike at Boeing. However, the employment data for August and September were revised downward, keeping the unemployment rate stable at 4.1%. The report further proves that the labor market is declining from the overheated levels of a few years ago, supporting the Federal Reserve's continued adjustment of restrictive monetary policy. TS Lombard's Chief US Economist Steven Blitz stated, 'The non-farm data dispelled any doubts about a 25 basis point rate cut in November, followed by another 25 basis point cut in December.'