NAFCU Chief Economist Curt Long statement on May jobs report
WASHINGTON, DC (June 3, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s May employment report.
“This was an unqualified dud of a jobs report, with the weakest month of job gains since 2010,” said Long. “The unemployment rate fell, but for the wrong reason as labor force participation declined for the second consecutive month. As for the Fed, this likely puts an end to the hopes of a rate hike in June, and will probably shift market expectations to September.”
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.