National Association of Federally-Insured Credit Unions (NAFCU) NAFCU Curt Long issued the following statement in response to the Labor Department’s August employment report, released this morning.
"Job growth disappointed in August, with employment gains falling shy of expectations and downward revisions to prior months," said Long. "The unemployment rate ticked up even as growth in the labor force slowed. Wages increased by just 3 cents per hour. The labor market is still in fine shape, but this report will augment the arguments of those in the Fed who want to hold off on a rate hike until inflation strengthens. NAFCU continues to believe that the next rate hike will be in 2018."