Friday, June 10, 2016

Abbott and Costello on Unemployment......

 This has made the rounds but worth re-sharing...

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

ABBOTT: Good Subject.  Terrible Times.  It's 5.6%.

COSTELLO:  That many people are out of work?

ABBOTT: No, that's 23%.  

COSTELLO: You just said 5.6%.

ABBOTT:  5.6% Unemployed.

COSTELLO:  Right 5.6% out of work.

ABBOTT: No, that's 23%.

COSTELLO: Okay, so it's  23% unemployed.

ABBOTT: No, that's 5.6%.

COSTELLO:  WAIT A MINUTE. Is it 5.6% or 23%? 

ABBOTT: 5.6% are unemployed.  23% are out of work.

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

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



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 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 it gets to 5.6%. Otherwise it would be 23%.

 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 a Democrat. 

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

ABBOTT: Now you're thinking like Hillary.


  1. worker non participants 94 mil....that's 42.7% of all workers....odildo the mad would have you believe 4.9% unemployed....crap....

  2. Looking or not, if you're out of work for more than 6 months, or are not getting unemployment payments, you're not "unemployed". Bastards.

  3. Does the 23% number include retirees, people on disability and people laid off but collecting a company severence? I think it does. This means the 23% number is high... but, it doesn't change the conclusion: Under Obama we've got many more "burger flippers" while he's increasing the welfare state, destroying jobs in the energy industry, and raising wages & benefits which will haasten the move to robotics in the service industries. Hillary as President will only make this worse.


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