Monday, September 19, 2016

Abbott & Costello:Unemployment vs Out Of Work

COSTELLO: I want to talk about the unemployment rate in America.

ABBOTT: Good Subject. Terrible Times. It’s 5.6%.

COSTELLO: That many people are out of work?

ABBOTT: No, that’s 23%.

COSTELLO: Okay, so it’s 23% unemployed.

ABBOTT: No, that’s 5.6%.

COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?

ABBOTT: 5.6% are unemployed. 23% are out of work.

COSTELLO: If you are out of work you are unemployed.

ABBOTT: No, Obama said you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed.


ABBOTT: No, you miss his point.

COSTELLO: What point?

ABBOTT: Someone who doesn’t look for work can’t be counted with those who look for work. It wouldn’t be fair.

COSTELLO: To whom?

ABBOTT: The unemployed.

COSTELLO: But ALL of them are out of work.

ABBOTT: No, the unemployed are actively looking for work. Those who are out of work gave up looking and if you give up, you are no longer in the ranks of the unemployed.

COSTELLO: So if you’re off the unemployment roles that would count as less unemployment?

ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment just goes down because you don’t look for work?

ABBOTT: Absolutely it goes down. That’s how it gets to 5.6%. Otherwise it would be 23%.

COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?

ABBOTT: Two ways is correct.

COSTELLO: Unemployment can go down if someone gets a job?

ABBOTT: Correct.

COSTELLO: And unemployment can also go down if you stop looking for a job?

ABBOTT: Bingo.

COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to have people stop looking for work.

ABBOTT: Now you’re thinking like a Democrat.

COSTELLO: I don’t even know what the hell I just said!

ABBOTT: Now you’re thinking like Hillary.

1 comment:

Anonymous said...

Goes along with what is considered a budget cut. It's not money we are saving. It is more money they say they will not spend next year. They don't guarantee they won't spend the same amount, and there is rarely a agreement to spend less. They just say they won't spend more, so that's a cut. That's why they are afraid of Trump. If our government is run like a business, unemployment may rise, because there's a lot of people who do nothing, and get paid a lot for it. The career politicians and state and federal mooches will have to work, or take the chance of their easy street jobs disappearing.