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NAFCU Chief Economist Curt Long Statement on September Jobs Report
FOR IMMEDIATE RELEASE
NAFCU Chief Economist Curt Long Statement on September Jobs Report
Washington (Oct. 2, 2015) - National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Labor Dept.'s September employment report.
"In a word, the September numbers were ugly," said Long. "Only 142,000 jobs were added, which is well below the average for the year (approximately 200,000), plus we lost more than 50,000 jobs in revisions to past months. Historically, August has seen the biggest upward revisions of any month, so that was extremely disappointing. To add to it, 350,000 workers left the labor force and wages dropped during the month.
"I think this ends any possibility of the Fed raising rates later this month, chances of which were slim to begin with," Long noted. "However, I think it would be premature to say that a rate rise is off the table for the December meeting."
The National Association of Federal 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. www.nafcu.org.
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Patty Briotta
Director of Public Relations
Office:703-842-2820
pbriotta@nafcu.org
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