The NCUA on Thursday released its May economic update on the agency’s official YouTube channel.
In the latest installment of the series, NCUA Chief Economist John Worth provides a brief synopsis of recent economic trends that point to a moderately growing economy.
The unemployment rate reached its lowest monthly level since December 2008, dropping to 7.5% in April.
However, Worth warns that an “improving economy with a falling unemployment rate will raise concerns about when interest rates will start rising. Rising rates could pose challenges to some credit unions.”
NCUA produces the monthly video to serve as a resource for credit union board members, loan officers and management.