New data from Gallup shows what economists might have expected. Unemployment has risen in the US recently, as the economy has slowed or perhaps even gone into reverse. The trend is confirms by slack demand in the housing market where both housing starts and permits are near all time lows.
“Unemployment, as measured by Gallup without seasonal adjustment, is 9.0% in mid-August — compared with 8.8% at the end of July and 9.1% in mid-August 2010,” the research firm reported.
The old, young, and under-educated have gotten the worst of it.
“it appears Americans 65 or older who want to continue to work are having more of a problem finding a job than they did a year ago. Unemployment among this group increased to 8.2% this year from 6.7% a year ago.”
Douglas A. McIntyre