It took more than six years, but America's economy has regained all the jobs lost during the Great Recession and its aftermath, according to an analysis by the
NCUA's new video, part of its economic update series, is an ideal information resource for credit union board members, loan officers and management. The video is available on NCUA's official YouTube channel.
NCUA Chief Economist
"Motor vehicle sales have jumped," Worth said, "and consumer income for the first four months of the year is up. Consumer balance sheets continued to improve in the first quarter."
Still, Worth notes, interest rate risk "should also be a concern for all credit unions that might, through potential
Overall, recent economic news has been good. The labor market has gained just over 210,000 jobs per month in 2014 to date--an improvement from the 194,000 monthly average gains during 2013--while the nation's unemployment rate has continued to trend down this year. Auto sales, an important channel for credit union lending, have spiked. In May, auto sales reached 16.8 million at an annual rate up more than 8 percent from a year earlier.
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