Unemployment counted today 60 years ago.

If they were still alive, this is how comedians Bud Abbott and Lou Costello would probably define the current unemployment problem.

Today the unemployment rate is 8.2% while the percentage of those unemployed is in excess of 14%.

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

ABBOTT: Good subject. Terrible times. It’s about 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’re out of work you’re 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’re 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’re ALL out of work.

ABBOTT: No, the unemployed are actively looking for work… Those who are out of work stopped looking. They gave up. If you give up, you’re 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 goes down just 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 I just said!

And now you know why President Obama’s unemployment figures are improving.

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About geneb527

Retired, but still spending an inordinant amount of time thinking about all things big and small. I am proud to be a strong constitutional conservative. I am also proud to have been married over 56 years to my wonderful wife, Louise. I continue to be amazed that she has put up with me for such a long time, but have been happy that she decided to do so. "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not," warned Thomas Jefferson.
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One Response to Unemployment counted today 60 years ago.

  1. Bruce says:

    Pretty good!
    Those guys were great.

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