WASHINGTON, DC (November 4, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s October employment report.
“This was a solid jobs report, with steady employment growth and stronger wage growth,” said Long. “While October’s job gains fell slightly below expectations, large upward revisions to prior months more than made up for it. Wage growth ticked up to 2.8 percent versus a year ago, which is the highest rate since 2009. From the Fed’s perspective, this report supports a rate hike in December.”
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.
