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Geithner: Unemployment Rate Expected To Rise

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Treasury Secretary Timothy Geithner

Treasury Secretary Timothy Geithner

Treasury Secretary Timothy Geithner is reporting that the unemployment rate is expected to rise even more. Although he wanted to make it clear that the U.S. economy is improving, he did admit that it was not at the rate that the he and the Obama administration had hoped for.

The most up-to-date financial report coming from the White House shows the United States Gross Domestic Product rose by 2.4%, a slower pace than seen in early 2010.

Geithner claims that the numbers demonstrate that “the private sector is getting stronger,” and “that part of the economy, which is what matters for the future, is getting progressively stronger and that’s very important.”

Despite a possible rise in unemployment, Obama continues to press for an increase in job growth, which the administration says will come following the opening of the countless factories that have been constructed over the past year.

Geithner: Unemployment Rate Expected To Rise by
Authored by: Harrison Barnes