Out of Work=Unemployed?

[REVerse °]

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.


COSTELLO: BUT THEY ARE OUT OF WORK!!!


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.

 

[Greg T.]

LMFAO!!! Classic!

 

[MI2AZ]

I thought Out Of Work would include students and retirees (like myself) who are not looking for work?

 

[REVerse °]

I thought Out Of Work would include students and retirees (like myself) who are not looking for work?

It really depends who does the math. Here is an example.

http://www.moneycrashers.com/what-is-national-us-unemployment-rate/

 

[MI2AZ]

Personally, I am more concerned with the way the govt figures out the inflation numbers. They keep telling me there is zero inflation while everything I spend money on (except gasoline) goes up. Rent, cable, food, bowling, auto parts, health insurance, etc.

 

[MI2AZ]

It really depends who does the math. Here is an example.

http://www.moneycrashers.com/what-is-national-us-unemployment-rate/

Thanks for the link. I had already seen some of that on a govt website.

 

[9andaWiggle]

I thought Out Of Work would include students and retirees (like myself) who are not looking for work?

Well, I'm not looking for work either, but... the damn boss keeps finding shit for me to do!

 

[AlwaysWrite]

So ... WHO'S (ON) FIRST in the unemployment line?

 

[AlwaysWrite]

Personally, I am more concerned with the way the govt figures out the inflation numbers. They keep telling me there is zero inflation while everything I spend money on (except gasoline) goes up. Rent, cable, food, bowling, auto parts, health insurance, etc.

Dear MI2AZ:

Everyone SHOULD realize that the "inflation numbers" don't reflect reality. And even though gas prices aren't as high as they were last year or the year before, the FACT is that when Barack Hussein Obama took office, the price of a gallon of gas was $1.81, so that price (overall) has actually gone up under BHO.