Business/Finance

Fed boss: `No easy resolution' in restoring jobs

Wednesday, June 09, 2010
Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, Wednesday, June 9, 2010, before the House Budget Committee hearing about the progress of the recovering economy. (AP Photo/J. Scott Applewhite)

Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, Wednesday, June 9, 2010, before the House Budget Committee hearing about the progress of the recovering economy. (AP Photo/J. Scott Applewhite)

Federal Reserve Chairman Ben Bernanke sees "no easy resolution" to restoring millions of jobs wiped out by the recession and strengthening the economy.

Bernanke says in prepared remarks that there has been some modest improvement in the labor market. But he also says the country continues to endure high unemployment, now at 9.7 percent. Bernanke is delivering the remarks at a work force development conference in Richmond, Va.

He says it will take a "significant amount of time" to restore the nearly 8.5 million jobs lost nationwide between 2008 and 2009.

(Copyright ©2014 by The Associated Press. All Rights Reserved.)

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