Recovery Won't Be 'Truly Established' Until Jobs Come Back, Bernanke Says

"With output growth likely to be moderate for awhile and with employers reportedly still reluctant to add to their payrolls, it will be several years before the unemployment rate has returned to a more normal level," Federal Reserve Chairman Ben Bernanke just told reporters in Washington.

And, he added, "until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established."

Bernanke's address to members of the National Press Club is posted here. He's delivering it right now, and will take questions afterward. MSNBC is streaming the event here.

We'll hear much more about employment tomorrow at 8:30 a.m. ET, when the Bureau of Labor Statistics is due to release January unemployment and hiring data. The jobless rate stood at 9.4 percent in December.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.