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NAFCU Chief Economist Curt Long statement on July Jobs Report

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.

"This was a solid jobs report overall. The unemployment rate dropped and the participation rate climbed," said Long. "Hourly wages grew by 9 cents, but year-over-year growth remained stuck at a modest 2.5 percent. As for the Fed, the path is clear to begin tapering the balance sheet in September, but NAFCU continues to believe that a December rate hike is unlikely unless inflation strengthens in the coming months."

NAFCU

We provide credit unions with the best federal advocacy, education and compliance assistance in the industry. The National Association of Federally-Insured Credit Unions (NAFCU) is a direct membership association for federally insured credit unions. We are committed to representing, assisting, educating and informing our member credit unions to help them grow, and help grow the credit union industry. Over the years we have been able to build on our foundation, growing stronger with our members and steadfast in our beliefs and focus: providing unwavering federal advocacy, top-rated education, one-of-a-kind compliance assistance and supreme responsiveness. Why? Because we believe credit unions are the best and they deserve the best.  

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