Newsroom

FOR IMMEDIATE RELEASE

Washington (Jun. 2, 2017) - National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department's May employment report, released this morning.

"The May jobs report was a disappointment as job growth failed to meet expectations and revisions reduced gains from prior months. The participation rate fell, and wage growth showed no improvement," said Long. "Despite the poor May returns, the Fed's view of the labor market remains strong enough to support a quarter-point rate hike later this month. But the slowing pace of job growth combined with still-muted wage growth may lead some officials to downgrade their expectations for further policy tightening in the second half of the year."

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 towww.nafcu.orgor @NAFCU on Twitter.