CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » October jobs report signals 'return to normal economic activity'
Policy & Issues

October jobs report signals 'return to normal economic activity'

November 5, 2021
2020-03-econimicforecast_117475

CUNA Senior Economist Dawit Kebede issued the following statement in response to the Labor Department’s October Jobs Report:

“The job market showed strong growth in October, as expected, after two months of disappointing performance. As the Delta variant continues to decline, employment in leisure and hospitality is rebounding, signaling a return to normal economic activity.

“This is good news for the Federal Reserve who announced it will start tapering off its asset purchase program later this month. As wages continue to rise and inflation concerns increase, a consistently strong job market makes it easier for the Federal Reserve to raise interest rates, if needed, earlier than planned.

“The labor force participation rate remains constant and is 1.7 percentage points lower than pre-pandemic rates despite declining COVID-19 cases and the federal government ending supplemental unemployment benefits. This contradicts the expectation that we will start to see an increase in labor force participation this fall.”

Credit Union Magazine: Rock Stars 2023

Rock Stars 2023

Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.
Digital Edition •  Subscribe

Trending

  • Meet the 2023 Credit Union Rock Stars

  • Senate Banking Committee passes cannabis banking bill

  • Senate committee to mark up SAFER Banking Act this week

Polls

Do you plan to use the FedNow instant payment service?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us