NAFCU Chief Economist Curt Long statement on July jobs report

WASHINGTON, DC (August 5, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s July employment report.

“This was another strong report that checked most, if not all of the significant boxes. Aside from the strong figure for job growth, labor force participation and year-over-year wage growth each ticked up slightly,” said Long. “The labor market should remain strong as long as consumers maintain their robust spending pace. While this was a second consecutive strong jobs report, it will not be enough to move the needle for the Fed. For those policy makers in the “wait and see” camp, poor GDP growth and weak inflation provide enough justification for waiting at least until December for the next rate hike.”


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 or @NAFCU on Twitter.


Molly Safreed, (NAFCU)

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