Gmail Labels do not support hierarchy,as Folders could.

I’ve started to use GMail. They have Labels instead of folders to organize e-mails. There are certainly benefits  in ability to have many labels for one item. However I feel folders are more familiar  for me (and other   people ).
In particular,  I am missing ability to organize hierarchy-i.e. sub-folders within folders.
I’ve posted the suggestion to Gmail discussion group.

Update Note: I found a special Google Feature requests group. It looks that it is a good place to post suggesetions to Google.
But in the header it is noted, that  “this is not an official Google group”. Does Google employee reads the news group? Do they consider the suggestions? 
Also is the group only about GMail as it stated in the header. Or suggestions regarding other google sites can be post there?

Update: Also I found a relatively new suggestion Labels with Sub Labels. I second it.
I was adviced that official way for GMail suggestions is through

By the way, I found a good tip about Bookmarking  Label in Gmail.