Ability to “unclog” labor market critical to recovery By Reuters


© Reuters. FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir/File Photo

WASHINGTON (Reuters) – Getting people off the sidelines of the economy and into jobs has become a critical issue in keeping the U.S. recovery on track, Richmond Federal Reserve president Thomas Barkin said Thursday.

“We have frictional challenges matching open jobs to available workers,” Barkin said, citing child care challenges, lingering health fears, and the impact of ongoing federal unemployment benefits as challenges. “The question of how to unclog the labor market is going to be a critical one.”

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