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Unemployment Up In August

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By Douglas A. McIntyre Published
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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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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