Abbot & Costello on US Unemployment- Who’s on First? (Friday Funnies)!

Just double talk the bad job picture and people will think there everyone is working!

Just double talk the bad job picture and people will think there everyone is working!

Hat tip to the Feral Irishman Blog – numbers updated by SunbeamTimes 9/2/16 using ZeroHedge stats as of June 2016. The Labor Force participation rate remains low at 62.8% (down from 66% in 2009 – cNBC). Shadowstats (by economist and fortune 500 consultant John Williams) is the ultimate source of the 23% true unemployment rate.

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

ABBOTT: Good Subject. Terrible Times. It’s 4.9%.

COSTELLO: That how many people are out of work?

ABBOTT: No, that’s 23%.

COSTELLO: You just said 4.9%.

ABBOTT: 4.9% Unemployed.

COSTELLO: Right 4.9% out of work.

ABBOTT: No, that’s 23%.

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

ABBOTT: No, that’s 4.9%.

COSTELLO: WAIT A MINUTE. Is it 4.9% or 23%?

ABBOTT: 4.9% 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 4.9%. 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.


2 Replies:

  1. Gary West

    Sounds like Bernie Sanders and Elizabeth Warren explaining Venezuelan economy to liberal millennials at an Occupy Wall Street organizational meeting after a legalize pot smoke-in..

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