FW: GHS1971 - Unemployed vs Out of Work

Subject: FW: GHS1971 - Unemployed vs Out of Work

Subject:GHS1971 - Unemployed vs Out of Work
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, it makes President
Obama's employment numbers look bad!
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 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%. President Obama
doesn't want you to read about 14.7% unemployment, it
makes him look bad, incompetent, and makes him look
like he doesn't have a clue what he is doing as President.
COSTELLO: That would be tough on the Democrats running
for re-election.
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 a Democratic Economist.

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

ABBOTT: Now you're thinking like a Congressman.


Anonymous said...

No, Congress said you can't count the
"Out of Work" as the unemployed, it makes President
Obama's employment numbers look bad!

Oh for fucks sake! Now they're trying to claim that the way the unemployment rate is calculated is some plot by Obama? The same method that's been used for decades and is understood by anyone who's taken a high school level economics course?

These people really are deranged. Before you know it, they'll be claiming Obama personally invented inflation, street crime and the bubonic plague.

Anonymous said...

Yep, those unemployment numbers sure are terrible. Let's fix that today. How about some massive infrastructure spending on the two hundred million trips are taken daily across deficient bridges?
How about an increase in the most efficient government spending programs, SNAP and unemployment, which contribute about $1.16 for every dollar spent?
While we're at it, let's increase discretionary spending to states so local governments can go to pre-recession levels of spending on things like education.
Maybe homeowner assistance to people who are still being subject to illegal business practices by grossly unregulated banks and lenders?
And for the conservatives, a payroll tax holiday!
And since we're borrowing at 0% interest because we're in a liquidity trap, it makes no sense not to!
Why, oh why, isn't that dastardly Obama doing something like this?

Oh, wait. He is. Congress won't move on it. Why? Here's why:

"Unemployment can go down if someone gets a job?"

Right wingers don't think there is a recession. They think the reason people are unemployed is because they are lazy and don't /want/ to get a job. They think the problem isn't unemployment, the problem is "those people."

We can't fix the problem until they acknowledge a problem exists.

Marc with a C said...

Seriously, we're going to use Abbott and Costello to criticize President Obama's policies? That tells you all you need to know about the GOP/Teahadist demographics. I'm just surprised they're not using the Yellow Kid.

gruaud said...

Barry Levinson wrote the original, without the Obama references and the 'Democrat Economist' whatever the hell that is.

Anonymous said...

Y'all are idiots!

The Watcher said...

The author of this piece seems to be playing with semantics himself a little. I can think of no real difference between "out of work" and "unemployed" for the purpose of this piece. 7.8% (now 7.3%) of Americans are not working, and seeking work.

14.7% of Americans are not working, period (no additional qualifiers). This includes retired people, disabled people, the infirm or incompetent, prisoners, and children, among others. The bottom line is, that 14.7% of Americans are not working is not a useful statistic for anything. The extra 6.9% are not in competition for jobs, not interested in finding jobs, and there's really no point or usefulness in counting them.

The author of the piece wants us to believe that there are 7.8% of Americans out there, pounding pavement, looking to become useful, and another 6.9% who just got discouraged, gave up, and are now sitting on their asses waiting for death to take them. And that's simply not true.

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