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Abbott & Costello on the Unemployment rate
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CoffeeRoastersClub
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Posted Sun Oct 14, 2012, 1:01pm
Subject: Abbott & Costello on the Unemployment rate
 

Abbot & Costello are about to solve the Unemployment Percentage Explained below:

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.

================

Len

CoffeeRoastersClub: abbott.jpg

 
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NobbyR
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Posted Mon Oct 15, 2012, 3:11am
Subject: Re: Abbott & Costello on the Unemployment rate
 

:-D In order to achieve full employment, one could make it illegal to actively look for work! :-D

 
***
"This drink of the Satan is so delicious that it would be a shame to leave it to the infidels." (Pope Clement VIII on coffee, when he was urged to ban the beverage)
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BLrdFX
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Posted Mon Oct 15, 2012, 4:43am
Subject: Re: Abbott & Costello on the Unemployment rate
 

There appears to be more than just Bud and Abbott at the wheel of this Clown Car that we are all avoiding as it hurtles down the sidewalk...
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calblacksmith
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Joined: 25 Nov 2007
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Posted Mon Oct 15, 2012, 10:20am
Subject: Re: Abbott & Costello on the Unemployment rate
 

One of the best descriptions of the situation I have heard yet! Sad.... but true!

 
In real life, my name is
Wayne P.
Anything I post is personal opinion and is only worth as much as anyone else's personal opinion. YMMV!

Feed the newbs, starve the trolls and above all enjoy what you drink!
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patrickff
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Posted Tue Oct 16, 2012, 8:38am
Subject: Re: Abbott & Costello on the Unemployment rate
 

Funny ... yet that's what happening.

Tweaking the numbers - it is election year.
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NobbyR
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NobbyR
Joined: 10 Jul 2011
Posts: 2,052
Location: Germany
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Posted Tue Oct 16, 2012, 8:45am
Subject: Re: Abbott & Costello on the Unemployment rate
 

patrickff Said:

Funny ... yet that's what happening.

Tweaking the numbers - it is election year.

Posted October 16, 2012 link

Like I said:

NobbyR Said:

Don't believe any statistics you haven't forged yourself.

Posted October 5, 2012 link


 
***
"This drink of the Satan is so delicious that it would be a shame to leave it to the infidels." (Pope Clement VIII on coffee, when he was urged to ban the beverage)
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