National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department’s June employment report, released this morning.
"The latest employment report showed strong job growth for June, plus upward revisions to prior months," said Long. "The increase in the unemployment rate was due to improved labor force participation. Wage growth remains stuck below 3 percent, which will provide some reassurance to the Fed that inflationary pressures remain relatively muted."