The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department’s October Jobs Report, released this morning:
“The labor market topped expectations during October, with above-trend job growth, a healthy increase in the labor force, and the fastest pace of annual wage growth in nine years. The data will reassure the Fed that the strength of the job market – which has been the main source of economic growth throughout the recovery – remains intact. Another rate hike is coming next month, and two additional quarter-point increases are likely in the first half of 2019,” said NAFCU Chief Economist Curt Long.