The seasonally adjusted unemployment rate was 4.93 percent in August, the national statistics agency said on Friday, above the 4.80 percent expected in a Reuters poll.

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The Harvard Business School graduate has kept New York City (population: 8.4 million) afloat amid a staggering financial crisis and a seasonally adjusted unemployment rate of 10.6%.

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Those numbers aren't adjusted for seasonality, but are still well above the 8.6% seasonally adjusted national unemployment rate.

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This has cut the nationwide unemployment rate to a seasonally adjusted 4.6% of the workforce, the lowest it has been since 1973.

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The red line is the actual unemployment rate while the blue line is seasonally-adjusted.

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If the seasonally adjusted rate for auto sales is now on the mend, he says, it's likely to mean unemployment, currently at 9.5%, will peak during the second half of 2010.

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