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WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement in response to the Labor Department’s December jobs report:

"The December jobs report was a mediocre one, with job gains coming in on the low side of the range of expectations, downward revisions to prior month gains, and wage growth dropping below 3 percent for the first time since mid-2018. The labor market is still on solid footing with low unemployment and a labor force participation rate that is near its post-recession peak. Overall, this report will reinforce the Fed’s view that the economy is currently neither too hot nor too cold. NAFCU expects that the fed funds rate will not budge for at least the first six months of 2020," 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.