Labor force weakened in July while credit unions continue to provide relief; from America's Credit Unions

Curt Long

"The July jobs report disappointed as job creation slipped below zero for the first time since February. The July data may have suffered from the impact of the end of the World Cup, increased immigration enforcement, and quirky seasonal factors, but the weakness extended beyond job growth to labor force participation and hourly earnings. A September rate hike from the Federal Reserve is still in play but would likely require a very hot inflation print later this month. Against this backdrop of rising prices and a tepid labor market, credit unions will continue to provide needed financial relief for Main Street households."

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