The unemployment rate in America explained

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

ABBOTT: Good Subject. Terrible Times. It’s 5.6%.

COSTELLO: That many people are out of work?

ABBOTT: No, that’s 23%.

COSTELLO: You just said 5.6%.

ABBOTT: 5.6% Unemployed.

COSTELLO: Right 5.6% out of work.

ABBOTT: No, that’s 23%.

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

ABBOTT: No, that’s 5.6%.

COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?

ABBOTT: 5.6% 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 5.6%. 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.

6 thoughts on “The unemployment rate in America explained

  1. The older population is getting screwed, the 50-year-olds in the mid 50s and 60s are the ones that really are getting burned. The only things left for them are Walmart door greeter , cab driver or Uber or …… Maybe truck driver if they can handle it .

    Hell, robbing a bank pays pretty good. Maybe a little armed robbery?

    1. “Hell, robbing a bank pays pretty good. Maybe a little armed robbery?”
      Mark, the thing is to remain moral through all this b.s..

  2. who’s on 1st
    whats on 2nd

    IDGAF is in the white house

    you should see the union wage and benefit packages for the next year of skilled trades starting next month , its no wonder we cant afford a dam thing and where this country s headed.. when this B&*tch blows its going to be a huuuuuge mess
    companies who are union contractors can be paying up to 90$ an Hr for a brick layer.. so if that company is to be getting anything from working that man they have to charge around 100$ an hour
    and yet his base wage is still down around 34$ and he can barely make it

    what a F’ed up mess, and more and more people are losing their jobs because theres no manufacturing jobs here any more and no higher paying jobs so the middle class gets its a** ate out .. the soup kitchen lines of the 30’s depression era are just covered up with the EBT card and some 47% are on it to some extent .. at what point to these shlubs in government figure it out that IT AINT WORKING!

  3. This was sent email to me via a forum I belong to. There was no information as to where or whom it came from. All copies that I found posted online said I found this on the internet. Not to be undone I searched further and found the source which I will post here: Posted on 23rd June 2015 by Administrator in Economy |Politics |Social Issues

    Credit should be given to those who present the material and now i can sleep tonight LOL. I loved those guys as a kid and fortunately You Tube features a lot of their work but not this one.

  4. It’s amazing how Abbott and Costello could seem to foretell the future with their skits…my fave being the “7 x 13 = 28” skit, which is all you need to know about Common Core math! (not mentioned by Orwell, that is…2+2=5)

Join the Conversation

Your email address will not be published.