WASHINGTON, DC (January 8, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.’s December employment report.
“The December jobs report showed another strong month of job gains, along with upward revisions to prior months,” said Long. “Most sectors grew, although mining continued to show weakness as a result of falling oil prices. The labor force participation rate ticked up as 466,000 entered the labor market, but wage growth disappointed in sliding by one cent per hour. While it is a strong report overall, it is not so positive as to overshadow the troubling developments in China recently, and the Fed will likely need more ammunition before it goes authorizes another rate hike.”
The National Association of Federal 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. www.nafcu.org.
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.
