WASHINGTON, Feb. 7 (UPI) -- The risk of a "double-dip" recession is "much lower" now, U.S. Treasury Secretary Tim Geithner said Sunday.

Speaking on ABC's "This Week," Geithner said that with the recent ongoing economic growth, a second recession has become less likely.


"We have much, much lower risk of that today than at any time over the last 12 months or so," Geithner said. "Again just think of where we are. We are in an economy that was growing at the rate of almost 6 percent of (gross domestic product) in the fourth quarter of last year -- the most rapid rate in six years.

"So we are beginning the process of healing."

Geithner made the comments as fresh worries were raised last week by figures indicating that 8.4 million jobs have been lost during the recession.

The treasury chief said the Obama administration is determined to "help guide this economy back to the point where we're not just growing again, but we've seen growth translate into jobs. And that we're reaching the lives of all Americans."