Former Federal Reserve Chairman Alan Greenspan said on “This Week With George Stephanopoulos” on ABC that he expects U.S. unemployment to rise above 10 percent from its current level of 9.8 percent and "stay there for a while."

Mr. Greenspan also discussed the economic effects of long-term unemployment, defined as being unemployed for 27 weeks or longer and currently at a historic high with over 5.4 million Americans counted in that group. Workers lose skills when they are out of work for protracted people, and “the economy loses skills.”