Published Date Oct 16, 2020

REUTERS:  Fed's Barkin says hiring could recover slowly as companies streamline

Spending by consumers and businesses could increase as people become more confident about the economy, but it could take longer for the labor market to recover because of mismatches in the labor force between the jobs lost and the jobs in higher demand, Richmond Federal Reserve Bank President Thomas Barkin said on Thursday.

Some people who lost jobs at retailers or in restaurants may not see a clear path to figuring out their next role, Barkin said during a virtual discussion organized by the Economic Club of New York.

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By Brenna Moses

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