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FOR IMMEDIATE RELEASE | July 07, 2017

NAFCU Chief Economist Curt Long Statement on June Jobs Report

FOR IMMEDIATE RELEASE

Washington (July 7, 2017) - 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.

"Hiring in June was solid as job gains topped 200,000. Upward revisions to prior months mean that job gains have averaged 180,000 per month in 2017, which is consistent with last year's pace. But wage growth has stalled, which will add to fears that low inflation may not improve any time soon.

"The latest release of the FOMC minutes showed divisions among Fed officials over how great a concern that is. While we may see the Fed trimming its balance sheet later this year, another rate hike is looking less likely."

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.

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Falen Taylor
press@nafcu.org