Wilkins Says Slow Canada Job Growth Shows Slack Persists

Bank of Canada Senior Deputy Governor Carolyn Wilkins said employment growth that’s about half of what’s required for recovery is a clear sign that slack is persisting in the world’s 11th largest economy, suggesting low interest rates are still needed.

Policy makers are grappling with a job market that’s slowed after leading the Group of Seven industrialized nations in recovering losses from the 2008 financial crisis, as well as C$40 billion ($36 billion) of lost exports, Wilkins, 50, said in an interview today at Bloomberg’s Toronto newsroom.