WASHINGTON, DC (October 5, 2018) — The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department’s September Jobs Report, released this morning:
“This was another solid jobs report. Gains for the month came in below trend, but sizable upward revisions to prior months made up the difference. In addition, although the Labor Department claimed an uncertain impact from Hurricane Florence, the drop in both retail trade and leisure and hospitality – two industries that are vulnerable to weather events – suggests there may be a rebound in store next month. Wage growth slowed but the year-over-year figure should bounce back next month as it will be compared against October 2017, which saw a 4-cent decline from the month prior,” said NAFCU Chief Economist Curt Long.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
