Canada says must ensure economy doesn't worsen

Fri Sep 18, 2009 11:24am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

OTTAWA (Reuters) - The Canadian government must continue to be careful on the economy and ensure it does not worsen, Finance Minister Jim Flaherty said on Friday.

"We're still not out of the woods, we need to stay the course ... we have to continue to be careful to make sure we don't slip backward," he told reporters, saying the jobless rate "may well get worse".

The government this week presented draft legislation to boost unemployment benefits.

"This is a tentative, fragile situation and we need to continue to help unemployed people in Canada," Flaherty said.

In the latest sign that the worst of the recession has passed, Statistics Canada said on Friday that wholesale trade soared by 2.8 percent in July from June -- a much bigger increase than analysts had forecast.

(Reporting by David Ljunggren; editing by Peter Galloway)