National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s August employment report.
"While this was a solid report overall, it nonetheless fell short of expectations. Job growth and wage gains both slowed, while the unemployment rate and labor force participation remained at previous levels," said Long. "Simply put, this report is not enough to compel the Fed to raise rates in September, and the focus will shift to December as the most likely date for the next rate hike."