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Geithner: Jobless rate to stay 'unacceptably high'

WASHINGTON (AP) - Treasury Secretary Timothy Geithner says Obama administration officials are "very worried" about recovering millions of jobs lost in the worst economic slump since the Great Depression.

Geithner tells NBC's "Today" show he does believe things are turning up, however, and that the economy "is going to start creating jobs again." His interview was broadcast on the eve of the government's report Friday on the national employment picture in March. The jobless rate currently stands at 9.7 percent of the labor force.

Geithner conceded that the level of joblessness is going to "stay unacceptably high for a very long time." And he attributed that to "the damage caused by the recession."


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