Fed’s Barkin: Labor Market Recovery Would Take Time

President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Thursday that spending could increase due to higher confidence in the economy, but that it would take longer for the labor market to recover, Reuters reported.

“You’ve got a lot of companies that have chosen, even though they’re doing fine, to streamline.”

“I think there’s real value to thinking about how we help people who have been displaced into their next job or their next career.”