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Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down

Posted By admin On August 3, 2010 @ 9:37 am In Featured Stories | Comments Disabled

KATE McCARTHY and RICH McHUGH
ABC News [1]
Tuesday, August 3, 2010

Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

“When they see a little hope that there may be jobs out there, they start to come back in again. And that can cause the measured unemployment rate to go up — temporarily,” Geithner told “Good Morning America’s” George Stephanopoulos in an exclusive interview. “But what we expect to see, and I think most forecasters expect this…is an economy that’s gradually healing, gradually strengthening, businesses starting to add people back.”

The economy is not rebounding as quickly as Geithner and the Obama administration would like, he said. Last week’s economic report card showed the Gross Domestic Product grew at a rate of 2.4 percent, slower than it had earlier this year. But amid that bad news, Geithner said, were signs of growth in the private sector.

Full story here. [1]

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down 270510banner2 [2]


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URLs in this post:

[1] ABC News: http://abcnews.go.com/GMA/treasury-secretary-timothy-geithner-unemployment/story?id=11308157

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Timothy Geithner confirmed as US treasury secretary: http://www.prisonplanet.com/timothy-geithner-confirmed-as-us-treasury-secretary.html

[4] Debt Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History: http://www.prisonplanet.com/debt-increased-more-under-geithner-than-under-any-treasury-secretary-in-u-s-history.html

[5] Book: Timothy Geithner ignored President Obama order: http://www.prisonplanet.com/book-timothy-geithner-ignored-president-obama-order.html

[6] Emails: Geithner, Treasury drove cutoff of non-union Delphi workers’ pensions: http://www.prisonplanet.com/emails-geithner-treasury-drove-cutoff-of-non-union-delphi-workers%e2%80%99-pensions.html

[7] Geithner Savaged On Unemployment During Fiery Capitol Hill Hearing: http://www.prisonplanet.com/geithner-savaged-on-unemployment-during-fiery-capitol-hill-hearing.html

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