Unemployment per Abbott and Costello

[bps3040]

COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It's 9%.

COSTELLO: That many people are out of work?

... ABBOTT: No, that's 16%.

COSTELLO: You just said 9%.

ABBOTT: 9% Unemployed.

COSTELLO: Right 9% out of work.

ABBOTT: No, that's 16%.

COSTELLO: Okay, so it's 16% unemployed.

ABBOTT: No, that's 9%...

COSTELLO: WAIT A MINUTE. Is it 9% or 16%?

ABBOTT: 9% are unemployed. 16% are out of work.

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

ABBOTT: No, you can't count the "Out of Work" as the
unemployed. You have to look for work to be unemployed.

COSTELLO: BUT THEY ARE OUT OF WORK!!!

ABBOTT: No, you miss my 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 who?

ABBOTT: The unemployed.

COSTELLO: But they are ALL out of work.

ABBOTT: No, the unemployed are actively looking for work... Those who
are out of work stopped looking. They gave up. 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 you get to 9%. Otherwise
it would be 16%. You don't want to read about 16% unemployment do ya?

COSTELLO: That would be frightening.

ABBOTT: Absolutely.

COSTELLO: Wait, I got a question for you. That means they're 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 just stop looking for work.

ABBOTT: Now you're thinking like an economist.

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

Now you know why unemployment figures are improving, and you should
be able to understand the State of the Union.

[DefensiveCarry.com]

[msgt/ret]

That is the way the government looks at it.

[Islandp229]

lamo

[Hopyard]

Whatever, the measurements are indeed what they are. We will see what the Employment Report shows. Probably a big increase.

And don't forget that some of the "uncounted" because they aren't appearing to be unemployed, work off the books.
Or work part time at something, and off the books at something else. IRS estimates it loses something like 300 billion a year in
uncollected taxes. That, if fixed somehow, would go quite a way to bringing the deficit down to a reasonable figure.

Don't misunderstand me, I don't think anything is peachy economically. I just don't think the above joke is either funny or an accurate portrayal of
where our economy is. S&P Index hit the 1350s last day or so. It hasn't been there in several years and is a leading indicator.

OTOH, I know someone who works in a company which appears to be sensitive to economic shifts. They are laying people off and consolidating.

My crystal ball is no less full of cataracts as the next fellows.

[ksholder]

LMAO and gonna steal this one. Humorously put to explain how the gov't counts unemployment. Any question why unemployment went down when they extended unemployment benefits? Now there's an oxymoron.

[1hogfan83]

Someone should send this to Rachel Maddow.

[ksholder]

Someone should send this to Rachel Maddow.

Why?

[1hogfan83]

Beeeeecause she brags about the presidents economics every time the unemployment drops .003% I guess you dont ever watch her, I watch her to take out my rage and yell at the T.V. My wife hates it.

[ksholder]

I know who she is and her political leanings. She would just bury the above skit because it would show O in a bad light - hence, why bother sending it to her.

[claude clay]

...and housing starts are up 50% in my area from 2 years ago

when you go from 2 to 3....
but we the politicians do not speak aloud about the 15 year average before 2008;
which was 47 per year.

remeber what M. Twain had to say about statistics...

[bolocanolo]

It doesn't matter how they count the unemployed, the CLOWN IN CHIEF needs the rate to be below 8% to get re-elected. I'm sure they'll get it there by July.

[1hogfan83]

talking A LITTLE BIT OF TOPIC. I was watching Hannity early in the election caucuss'(sp) and they were talking all about polling and who was leading and all that stuff. All the sudden he (Hannity) stopped and asked several other people on his great american panel if they had ever been polled. They all laughed and said no. It does make one think, where do they come up with these polling numbers?

[CowboyColby]

Spot on!!!

[claude clay]

if you answered any survey in the past your name gets on others... and your
name is traded/sold to all sorts of agencies. some have-to-mail-in warranty
cards have a small box that has to be checked if you do not want to be contacted.

so, it often goes unnoticed and people who do not pay attention get to have their
opinions heard.

[40Bob]

Bad times are on the horizon to be sure. Abbot and Costello are one on my favorite comedic acts.