Richmond Fed's Barkin: Low job growth sign of bottleneck in supply of workers

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

WASHINGTON (Reuters) – The disappointing jobs report for April showed a bottleneck of workers moving into employment not a weakening recovery, Richmond Federal Reserve president Thomas Barkin said on Friday.

“I am quite hopeful we are at the brink of completing the recovery,” Barkin said, but a list of reasons including fear of the coronavirus, child care, retirements, and the availability of unemployment benefits may be holding back hiring to jobs that companies want to fill. “I don’t think the demand side is our issue anymore. It is the supply side,” Barkin said.

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