NAFCU Chief Economist Curt Long statement on December jobs report
WASHINGTON, DC (January 6, 2017) — National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s December employment report.
“The labor market finished the year on a positive note, as job gains were slightly below expectations but still strong, and wage growth continued to improve. Hourly wages grew 2.9 percent from a year earlier, the fastest pace since 2009,” said Long. “Moreover, wage gains were spread broadly across industries. Labor force growth has slowed, which provides further evidence that full employment has arrived, or is at least in sight. While the labor market continues to hum along, this report does not raise alarm bells for the Fed as it considers the next rate hike. Wage growth is improving but still not strong enough to suggest that the Fed is in danger of getting behind the curve.”
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.