Newsroom

FOR IMMEDIATE RELEASE

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

"The October jobs report was modestly positive, on net. Job growth fell slightly below expectations, but when paired with the sizable upward revisions to prior month data, the results were solid," saidLong. "However, wage growth and labor force participation both slipped during the month. The data is likely to continue to be choppy for the next few months due to weather impact, but this report was strong enough to keep the Fed on track for a rate hike in December."

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.

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Jacqueline Ramsay
jramsay@nafcu.org