Bank of Canada says still slack in the economy

Thu Jan 21, 2010 12:10pm EST
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OTTAWA Jan 21 (Reuters) - Canada can expect gradual improvement in the unemployment picture going forward, Bank of Canada Governor Mark Carney said on Thursday.

He said the deterioration of Canada's labor market appears to have stopped, though there is still slack in the broader economy and job market.

Earlier this month, data showed the Canadian jobs recovery stalled in December, while the unemployment rate remained unchanged at 8.5 percent. (Reporting by Louise Egan; Writing by Ka Yan Ng; editing by Peter Galloway)