National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department’s July employment report, released this morning:
"The July labor report showed employment gains that, when combined with upward revisions to prior months, remained on trend. Wage growth was subdued once again and is barely keeping up with inflation. Overall, the report did little to change perceptions that the labor market is tight but has yet to begin overheating, and it keeps the Fed on track for a rate hike next month,” said NAFCU Chief Economist Curt Long.