Guardian
April 1, 2010

  • A d v e r t i s e m e n t
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The treasury secretary Timothy Geithner warned today that US unemployment was “terribly high” and would remain “unacceptably high for a very long time”. The Obama administration was “very worried” about the jobless rate, Geithner said in an interview, which has soared to almost 10% in the wake of the worst economic downturn since the depression.

However, Geithner was encouraged by figures showing that American jobless claims fell last week and told NBC that business growth has been improving.

“A huge amount of damage was done to businesses and families across the country … and it’s going to take us a long time to heal that damage,” he explained.

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