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.
“As disappointing as last month’s jobs report was, this one more than makes up for it,” said Long. “Job gains surged past analysts’ expectations, while the unemployment rate dropped even as 300,000 workers joined the labor force. Meanwhile, year-over-year wage growth hit its highest mark since mid-2009. Barring catastrophe, everything looks set for the Fed to raise rates in December.”