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Unemployment explained…

Posted by Pete | Posted in News | Posted on 16-02-2012

2

THis is absolutely true.
—

 

Subject: Fw: : Unemployment

 

      UNEMPLOYMENT

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 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! Now you know why Obama’s unemployment figures are improving.

Sent to me by a friend…Oh, so true…..

 

Comments (2)

Errol said on 16-02-2012

So true! But the math is wrong! It is really 18%; but, with the funny math coming out of the current administration, who knows? It is really much greater than 18% if all of those “retired” people who are able to work but are not looking for work are counted. I’ll hang up my pen on that one because this is a touchy subject as the subject of unemployment is always a touchy subject respecting the working and non-working poor as well as the working and non-working rich. Let’s just work for the enjoyment of it and thank God that we are physically and mentally able to do so. Besides there is more ways to work than just “pulling a paycheck”. For example, in the face of a divorce rate approaching 50%, the work necessary to keep a healthy, loving marriage is some of the most difficult, yet satisfying work around. Like advertising, it often cost rather than pays, but the benefits are satisfying indeed.
Pete said on 16-02-2012

The math may be a little fuzzy, but the content is right on.

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