Abbott and Costello discuss unemplyment statistics

[Seanpcola]

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

ABBOTT: Good Subject. Terrible Times. It's 7.8%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 14.7%

COSTELLO: You just said 7.8%.

ABBOTT: 7.8% Unemployed.

COSTELLO: Right 7.8% out of work.

ABBOTT: No, that's 14.7%.

COSTELLO: Okay, so it's 14.7% unemployed.

ABBOTT: No, that's 7.8%.

COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%?

ABBOTT: 7.8% are unemployed. 14.7% are out of work.

COSTELLO: If you are out of work you are unemployed.

ABBOTT: No, Congress 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 rolls 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 they get it to 7.8%. Otherwise it would be 14.7%. Our govt. doesn't want you to read about 14.7% unemployment.



COSTELLO: That would be tough on those running for reelection.



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 have people stop looking for work.

ABBOTT: Now you're thinking like an Economist.

COSTELLO: I don't even know what the hell I just said!

ABBOTT: Now you're thinking like Congress.

 

[Bean Counter]

This would be funny if it weren't so true. Just running the numbers from the bureau of labor statistics and some estimates from CNN if 2012 the numbers are worse than the joke. As of June the unemployment rate was estimated at 7.6% or 11,777,000 people. These figures only include the 155,263,158 people considered to be in the work force. The actual population is around 315,090,000. Of the 159,826,842 not employed and not in the workforce 38% are over 65 and 20% are between the ages of 16-24. If you use totals and include all citizens it looks more like this excluding the over 65 and 16-24 groups.

Population: 315,090,000

Gov. Unemployed: 11,800,000
Other unemployed: 51,144,589 (159,826,842 Non-workers, less 60,734,200 over 65, less 31,965,368 16-24, less 10% extra just to be conservative 15,982,684)

% of Pop Unemployed: 19.98% Drop the 10% and the number is 25.05%

Question: What is 2+2?
Accountants answer : What do you want it to be?

 

[Seanpcola]

Yep Bean, you are correct. I find the manipulation of facts and figures interesting if not disgusting. It's like the approval numbers for the enlightened One and voting statistics. The real story is camouflaged behind fluff and spin.

 

[Bean Counter]

I guess it wouldn't be fair to to count the 24% (75,700,000) of the population on some form of welfare in with the unemployed that just wouldn't be democratic, I mean fair. This does NOT include the 15.74% (49,600,000) of the population receiving Social Security benefits (no kick here they paid it so they should get it, just part of the statistics). So to sum it up, based on total population, 45.53% (143,463,158) of the population (workers) pay taxes each year to support the 27.77% living on the government tit and the 15.74% on Social Security (News flash that Social Security Trust thing doesn't exist except as an IOU). Let's see 45.53% paying for 43.51%, I guess I need to get another job to support that other family I am paying for. Find that debt clock and look at the unfunded liabilities then you will understand how upside down we are. Smoke and mirrors again national debt 17 Trillion, unfunded liabilities 125 trillion.

 

[HughJoergan]

Don't start going and making sense there Bean!!!

You're also missing another factor tho Bean. What % of the "employed" are working Govt (be it Fed, State or Local) jobs?