This ho-hum labor market report doesn't really change the story for the Fed, whose senior officials had gone out of their way this week to signal that an October rate hike probably wasn't their base-case. The biggest development was what it didn't show: few signs from wages or the unemployment rate that the labor market is tightening in ways that would add meaningfully to price pressures. The September CPI, due Oct. 14, was always going to be more important than this report, which nevertheless takes some of the hawkish edge off of the recent repricing of the Fed's path in markets.