Red Logan #12252 Posted August 8, 2012 Share Posted August 8, 2012 "Unemployment" explained by Abbott & Costello And here you have it...................................... Abbott and Costello explain unemployment! 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 whom? 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 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 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! ABBOTT: Now you're thinking like a politician. Link to comment Share on other sites More sharing options...
The Original Lumpy Gritz Posted August 8, 2012 Share Posted August 8, 2012 Two of the best there will ever be LG Link to comment Share on other sites More sharing options...
Grumpy Old Man Posted August 8, 2012 Share Posted August 8, 2012 Who's on first? Link to comment Share on other sites More sharing options...
Moose Wesson Posted August 9, 2012 Share Posted August 9, 2012 Who's on first? I dunno......third base! Moose Link to comment Share on other sites More sharing options...
Charlie Harley, #14153 Posted August 9, 2012 Share Posted August 9, 2012 Two of the greatest funny-men of all times. I wish the parody weren't so true. I was in grad school when we started diving into the details of the unemployment figure. It is a shell game for sure, and you need to keep track of all the shells. Two weeks ago the unemployment rate ticked up, but the stock market took a huge jump which usually indicates good news being shared. Why? Because there were more jobs created than was expected! However, the unemployment rate went up because more people re-entered the work force than there were jobs created. Republics spun the rising unemployment rate. Democrats spun more jobs created. I didn't spin because I already know who I'm voting for in November. Link to comment Share on other sites More sharing options...
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