Newsroom
August 24, 2014
209,000 new jobs created in July
Aug. 4, 2014 – The unemployment rate in July was 6.2 percent, up from 6.1 percent in June as 209,000 new jobs were created, according to data from the Bureau of Labor Statistics analyzed by NAFCU Senior Economist Curt Long.
"This is the sixth consecutive month that job gains have topped 200,000," Long said in a NAFCU Macro Data Flash report. June's numbers were revised upward by 10,000 to 298,000 while May's numbers were revised upward by 5,000 to 229,000.
Total private-sector payroll employment increased by 198,000 jobs in July. The goods-producing sector increased by 58,000 jobs, while the service sector increased by 140,000 jobs and total government increased by 11,000 jobs.
"Wage gains have yet to pick up steam, as average weekly earnings growth was flat in July and up only 2 percent compared to last year," Long said. "While the job-growth trend is encouraging, the Federal Reserve will not feel too much pressure to increase short-term rates earlier than planned as long as wage growth remains muted."
"This is the sixth consecutive month that job gains have topped 200,000," Long said in a NAFCU Macro Data Flash report. June's numbers were revised upward by 10,000 to 298,000 while May's numbers were revised upward by 5,000 to 229,000.
Total private-sector payroll employment increased by 198,000 jobs in July. The goods-producing sector increased by 58,000 jobs, while the service sector increased by 140,000 jobs and total government increased by 11,000 jobs.
"Wage gains have yet to pick up steam, as average weekly earnings growth was flat in July and up only 2 percent compared to last year," Long said. "While the job-growth trend is encouraging, the Federal Reserve will not feel too much pressure to increase short-term rates earlier than planned as long as wage growth remains muted."
Share This
Related Resources
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Add to Calendar 2024-04-11 14:00:00 2024-04-11 14:00:00 Regulation E: Impacts Across Your Institution Dive into regulatory excellence with, Regulation E: Impacts Across Your Institution. This webinar is tailored to empower you with the knowledge and strategies necessary to effectively implement the Electronic Funds Transfer Act (EFTA) and Regulation E within your operations. You’ll explore how to apply Regulation E across various business areas to ensure compliance obligations are met with precision. Key Takeaways Learn the basics of EFTA and Regulation E Understand how to apply Regulation E at your organization to detect processes and transactions that require Regulation E compliance Discover how Regulation E may apply to a large breath of areas in your institutions and functions for which you may rely on third-party vendors Review recent enforcement activity for non-compliance with EFTA and Regulation E Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 11, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Regulation E: Impacts Across Your Institution
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.