Newsroom

FOR IMMEDIATE RELEASE

Washington(Feb. 2, 2018) -- National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Department's January employment report, released this morning.

"The January jobs report was solid. The addition of 200,000 jobs is encouraging, although downward revisions to prior months are a mitigating factor," said Long. "But the big news was a solid increase in wage growth to 2.9 percent, which is the high-water mark for the recovery. This provides even more ammunition for the Fed to raise rates next month."

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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@NAFCUon Twitter.

Falen Taylor

ftaylor@nafcu.org