According to Nate Silver in the Times, the job numbers for the past month are mostly underestimates and will be "revised upward" as more data come in. In fact, the whole past year will likely be revised upward.
If the September numbers resulted in part from statistical variance, it is certainly possible that there will be some payback in the October report, which will be released the Friday before the Nov. 6 election.
But it is also possible that the strength shown in the government’s report on Friday reflects it playing catch up. The firm ADP, which tracks private-sector payrolls, had reported that an average of 170,000 private-sector jobs had been created each month so far this year. The ADP reports are much maligned because they do not always match the government’s payroll figures over the short run. But in the long run, the numbers tend to converge. ...Silver, NYT