NAFCU’s Long: Jobs report tops expectations
WASHINGTON, DC (November 2, 2018) — 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.
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.