Romer: Long Term Unemployment ‘Devastating’; ‘Desperate’ for Progress on Jobs

By Jacqueline Klingebiel

Jan 10, 2010 11:55am

The Chair of the Council of Economic Advisers told me this on 'This Week' the consequences of long term unemployment are “devastating”.   In my interview with Dr. Christina Romer, the president’s top economist told me, “You will get no argument from me… it’s still terrible.  We’re still losing jobs.”

The first Friday of every month, when new unemployment numbers come out, is always an “incredibly tense” time at the White House, Romer added.  “We're all desperate to see progress, because we know how important it is to the economy and the people.”

Romer said job growth by spring is still a “very realistic estimate”.

Watch Video HERE:

- George Stephanopoulos

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