UPDATE 2-Canada's Flaherty sees job market weakness

Thu Nov 5, 2009 9:14pm GMT
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* Sees continued weakness in job market

* Signs of economic stabilization

* No G7 huddle on sidelines of G20 meeting (Adds details, changes dateline to Ottawa)

By Louise Egan

OTTAWA, Nov 5 (Reuters) - Canadian Finance Minister Jim Flaherty said on Thursday he expects to see weakness in the job market until a solid economic recovery takes hold, although he does see employment gains in some sectors.

"There are some encouraging signs in the construction area .... but overall I continue to expect some weakness in the job numbers," he told reporters in Ottawa.

"They may vary from month to month, but we need to have a clear entrenched economic recovery and then the job numbers will have to catch up with that, as businesses start to reinvest."

The finance minister said he had not yet seen job data due out on Friday that is expected to show the Canadian economy added 10,000 jobs in October. [ID:nN04446691]

When asked whether he thought the economy was in a recovery phase now, he characterized it as a period of stabilization.  Continued...

 
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