The U.S. labor market grew at a faster rate than expected in September with notable gains in the food and beverage sector as well as health care, although manufacturing shed jobs.

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.

Here is what you need to know ahead of this morning's monthly payrolls report: Economists polled by The Wall Street Journal expect 150,000 new jobs were created last month, up from 142,000 in August.