Unemployment - Abbott & Costello

[Picky1]

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

ABBOTT: Good Subject. Terrible Times. It's 7.8%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 14.7%

COSTELLO: You just said 7.8%.

ABBOTT: 7.8% Unemployed.

COSTELLO: Right 7.8% out of work.

ABBOTT: No, that's 14.7%.

COSTELLO: Okay, so it's 14.7% unemployed.

ABBOTT: No, that's 7.8%.

COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%?

ABBOTT: 7.8% are unemployed. 14.7% are out of work.

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

ABBOTT: No, Congress said 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 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 rolls 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 they get it to 7.8%. Otherwise it would be 14.7%. Our govt. doesn't want you to read about 14.7% unemployment. COSTELLO: That would be tough on those running for reelection. ABBOTT: Absolutely. 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 an Economist.

COSTELLO: I don't even know what the [censored] I just said!

ABBOTT: Now you're thinking like Congress.

 

[Quattro Pete]

More sad than funny, but thanks anyway.

 

[gregk24]

America is going down the tubes

 

[Smokescreen]

This is so true is not even funny. What is funny is the placation of the masses by reporting a much lower number than it really is and its acceptance as not being so bad.

 

[Oldmoparguy1]

Originally Posted By: gregk24
America is going down the tubes

America is already down the tubes...

If you are gainfully employed, then you are working for yourself and 3 other people, 1 who is unemployed, and 2 who are out of work.......

 

[Dave Hess]

www.DailyJobCuts.com


Look at the job cuts every day and see just how bad things are going in the USA.
Some bozos in our Government say everything is sunshine and roses.

 

[DBMaster]

The one thing that none of the BSL statistics captures are those who were unemployed and then took jobs paying less than what they made previously. In my case, that was 20% less. Here I am, four years later at "only" 10% below my 2008 salary.

If that were added to the stats we would all be feeling even less optimistic, I think.

 

[Barkleymut]

I am making 30% less than I was back in 2006! The life of a b2b salesman has been really tough over the past 6-7 years

 

[Dave Hess]

I get a 5% raise every year so I can't complain.
I also have a pension, voluntary pension and a 401K.

The real unemployment number is around 15-17%

 

[DBMaster]

I look at the U6 on the BLS web site. I think it is still understated, but that is the world in which we now live. Deal with it, or die, I suppose.

 

[sciphi]

That would be hilarious if wasn't so sad...