Abbott and Costello explain the U.S. unemployment rate?

 

http://politicsandfinance.blogspot.com/2013/02/abbott-and-costello-explain.html

Friday, February 22, 2013

Abbott and Costello explain the U.S. unemployment rate?

If you ever wondered how the unemployment rate goes down when so few jobs are created every month, let Abbott and Costello explain it to you!

Basically, compared to all of the B.S. that's being shoveled by the Obama administration and shill economists about how the economy is improving, the explanation given in this A and C routine makes a lot of sense!

Abbott and Costello explain the unemployment rate!

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

ABBOTT: Good Subject. Terrible Times. It's 7.9%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 14.7%.

COSTELLO: You just said 7.9%.

ABBOTT: 7.9% Unemployed.

COSTELLO: Right 7.9% out of work.

ABBOTT: No, that's 14.7%.

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

ABBOTT: No, that's 7.9%.

COSTELLO: WAIT A MINUTE. Is it 7.9% 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, Obama 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: Fair to who?

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 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 the current administration gets it to 7.9%. 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 administration supporters stop looking for work.

ABBOTT: Now you're thinking like the Economy Czar.

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

ABBOTT: Now you're thinking like our current President!

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The Political Commentator (http://s.tt/1A5bt)

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