November 2, 2009 / 3:43 PM / in 8 years

Flaherty sees lagging recovery in jobs

TORONTO (Reuters) - Finance Minister Jim Flaherty said on Monday Canadians should not expect the employment market to recover as quickly as the general economy.

He declined to comment to reporters on the November 6 release of jobs data, but said: “The recovery in jobs will lag recovery of the economy. That is to be expected. That is the lesson of past recessions. It takes time for businesses to regain confidence, to reinvest in their businesses and thereby create jobs.”

Reporting by Frank Pingue, writing by Randall Palmer; editing by Peter Galloway

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