To: ManyMoose who wrote (46005 ) 1/25/2012 10:01:35 AM From: Mad2 13 Recommendations Read Replies (2) | Respond to of 62578 Unemployment and out of work > 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 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 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 they're 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! > > > And now you know why Obama's unemployment figures are improving!