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FOR IMMEDIATE RELEASE | December 04, 2020

NAFCU Research: Jobs Report Reflects Reason for Congress to Pass Stimulus

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement after the Labor Department released the November jobs report:

“Headline job growth slowed in November as the toll taken by rising COVID cases is showing. The labor market added 245,000 jobs during the month, which is not nearly fast enough given the unemployment overhang. Retail, restaurant, and government payrolls all contracted, and labor force participation dropped. This data should provide more impetus for Congress to pass a stimulus effort in order to nurse the recovery through the initial months of 2021 until a vaccine is widely available,” said NAFCU Chief Economist and Vice President of Research Curt Long.

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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 to www.nafcu.org or @NAFCU on Twitter.