* Sept nonfarm payrolls up by 142,000 vs 203,000 expected
* Unemployment rate unchanged at 5.1 pct
* Average hourly wages fall by a cent
* Futures down: Dow 118 pts, S&P 15 pts, Nasdaq 33 pts (Adds details, comment, updates prices)
By Abhiram Nandakumar and Tanya Agrawal
Oct 2 (Reuters) - Wall Street looked set to open sharply lower on Friday after data showed a less-than-expected rise in nonfarm payrolls in September, raising doubts that the economy is strong enough to allow the Federal Reserve to raise interest rates this year.
U.S. employers added 142,000 jobs, compared with 136,000 in August and below the 203,000 that economists polled by Reuters had expected. August figures were also revised sharply lower.
The jobless rate held steady at 5.1 percent but average hourly wages fell by a cent to $25.09 during the month, and were up only 2.2 percent from the same month in 2014.
This is the last payrolls data before the Fed meets later this month.
“It’s an absolutely weak report all around,” said Tom Porcelli, chief U.S. economist at RBC Capital Markets.
“So if you have a weak report here in combination with some of the other weakness that we are seeing across the globe, the odds (of a rate hike) get dinged for December.”
S&P 500 e-minis were down 15 points, or 0.78 percent, with 285,474 contracts traded at 8:38 a.m. ET (1238 GMT). Nasdaq 100 e-minis were down 32.5 points, or 0.78 percent, on volume of 48,224 contracts. Dow e-minis were down 118 points, or 0.73 percent, with 43,263 contracts changing hands.
Global markets rose earlier in anticipation of a strong report as investors look to get past the worst quarter for stocks since 2011.
The S&P 500 and the Nasdaq closed slightly higher on Thursday in a choppy start to the fourth quarter as investors waited for the jobs report and the quarterly earnings season.
Financial markets have been roiled by worries about the global economy. The Fed’s decision to keep rates unchanged added to the uncertainty.
A small hike in rates could help calm volatile equity markets and start giving the Fed some ammunition to deal with any future economic slowdowns.
Fed Vice Chair Stanley Fischer is scheduled to speak in Boston at 1:30 p.m.
Crude oil prices trimmed earlier gains after the jobs report.
Pfizer’s shares rose 0.7 percent to $32.05 in premarket trading after Morgan Stanley upgraded the stock to “overweight”, saying the company’s revenue growth would turn positive in 2016.
Micron Technology was up 4.5 percent at $15.44 after the chipmaker posted better-than-expected quarterly earnings. (Reporting by Abhiram Nandakumar and Tanya Agrawal in Bengaluru; Editing by Savio D‘Souza and Saumyadeb Chakrabarty)