Abbott and Costello on Unemployment

[Brlesq]

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

ABBOTT: Good Subject. Terrible times. It's 8%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 19%.

COSTELLO: You just said 8%.

ABBOTT: 8% Unemployed.

COSTELLO: Right 8% out of work.

ABBOTT: No, that's 19%.

COSTELLO: Okay, so it's 19% unemployed.

ABBOTT: No, that's 8%...

COSTELLO: WAIT A MINUTE. Is it 8% or 19%?

ABBOTT: 8% are unemployed. 19% 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 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 you get to 8%. Otherwise it
would be 19%. You don't want to read about 19% 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.

[Hapcigar]

 

[sjn1117]

hilarious aint it!

[lubrix]

So true!.

[Ken Kelley]

Yup! I quit calling politicians "slime mold" because it's a slur on innocent slime molds.

[Vroomp]

Alphairon - 10/22/2012  8:16 AM  Yup! I quit calling politicians "slime mold" because it's a slur on innocent slime molds.

 

       

[DonM]

 

[MT21]

 
Good one Bruce!

[toby2]

[pferg]

   

[1sgjeffward]

And the scary thing is all of you think that's a joke! It's not a joke it's an actual political platform

[ntanner]

 

[lowpro75]

It's a funny exchange and the the topic is exhausting but the reality is that you can't count people who are retired or have no desire to be employed (lottery winners, trust fund kids, etc).  I don't understand how people who are young can say they have stopped looking for work unless they have decided to move to a cave and live off the land or their parents basements.  Even then I would think they would get a kick in the ass to get a job.

[junglepete]

lowpro75 - 10/22/2012  10:54 AM

It's a funny exchange and the the topic is exhausting but the reality is that you can't count people who are retired or have no desire to be employed (lottery winners, trust fund kids, etc).  I don't understand how people who are young can say they have stopped looking for work unless they have decided to move to a cave and live off the land or their parents basements.  Even then I would think they would get a kick in the ass to get a job.

Strangely enough, I alone know of a few young people who would qualify as leaching basement dwellers of who have turned not looking for a job into a job in itself. Would that be considered employed? And I also know of parents who would not dare to use "kick ass" tactics because that would just demolish the delicate artistic development of there precious basement dwellers.

p.s. I do not have kids....lucky them.