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WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) issued the following statement after the Bureau of Labor Statistics released the August Jobs Report:

“The August jobs report gave the FOMC exactly what they want,"  said NAFCU Chief Economist and Vice President Curt Long. “Job growth came down from the stratospheric heights of the prior month but remained plenty strong enough to ward off fears of a recession. More important was the improvement in labor force participation, which had been scuffling in recent months. That should relieve some of the tautness in the labor market and allay concerns about labor shortages feeding inflationary pressures.” 

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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.