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  1. #1
    Ultimate Member Toadman's Avatar
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    Unemployment stats(i.e. Who's on first?)

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

    ABBOTT: Good Subject. Terrible Times. Itís 8.3%.

    COSTELLO: That many people are out of work?

    ABBOTT: No, thatís 16%.

    COSTELLO: You just said 8.3%.

    ABBOTT: 8.3% Unemployed.

    COSTELLO: Right 8.3% out of work.

    ABBOTT: No, thatís 16%.

    COSTELLO: Okay, so itís 16% unemployed.

    ABBOTT: No, thatís 8.3%Ö

    COSTELLO: WAIT A MINUTE. Is it 8.3% or 16%?

    ABBOTT: 8.3% are unemployed. 16% are out of work.

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

    ABBOTT: No, you canít 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 my point.

    COSTELLO: What point?

    ABBOTT: Someone who doesnít look for work, canít be counted with those who look for work. It wouldnít be fair.

    COSTELLO: To who?

    ABBOTT: The unemployed.

    COSTELLO: But they are ALL out of work.

    ABBOTT: No, the unemployed are actively looking for workÖ Those who are out of work stopped looking.
    They gave up and if you give up, you are no longer in the ranks of the unemployed.

    COSTELLO: So if youíre off the unemployment rolls, that would count as less unemployment?

    ABBOTT: Unemployment would go down. Absolutely!

    COSTELLO: The unemployment just goes down because you donít look for work?

    ABBOTT: Absolutely it goes down. Thatís how you get to 8.3%. Otherwise it would be 16%. You donít want to read about 16% unemployment do ya?

    COSTELLO: That would be frightening.

    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 just stop looking for work.

    ABBOTT: Now youíre thinking like an economist.

    COSTELLO: I donít even know what the hell I just said!

    -----
    I got a kick out of this.

  2. #2
    The Jiggawatts, Marty! tony_j15's Avatar
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    That's fun.
    All 1.21 of them.

  3. #3
    Fact Checker Gomer's Avatar
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    Quote Originally Posted by tony_j15 View Post
    That's fun.
    Can I have my 30 seconds back?

  4. #4
    Tech IMO Bug Finder pickel's Avatar
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    Angry

    Quote Originally Posted by tony_j15 View Post
    That's fun.
    NOT , if you're unemployed or quit looking for work since you cannot find a job !!!!!

    Some things aren't worth joking about....
    http://www.youtube.com/watch?v=JOtab0BKOGY
    The Nation which forgets it's defenders will itself be forgotten
    You cannot make peace with dictators. You have to destroy themĖwipe them out!

  5. #5
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    So true.

  6. #6
    MR Meek and Mild Epidemic's Avatar
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    I don't know how one determines how many people want a job if they are not actively seeking one.

    but I do have to say that the people desiring work numbers are higher than 8.3%

    but when times were good no one pays attention to the un-employed who have given up number. I wager it is always higher then the un-employed number.


    I track numbers all the time and you can gather alot of information from simply monitoring trend and whether you track out of work or unemployment both work pretty well when looking for a problem.

  7. #7
    Ultimate Member Chuckiechan's Avatar
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    I don't know how one determines how many people want a job if they are not actively seeking one.
    That number is derived from the number of people working, minus the unemployed. This total is subtracted from the previous year's total people working.

    In short the figures were rigged by politicians, and dutifully reported by the MSM. The important number is called "U6" or "not participating in the workforce".

    Bottom line is we need 20 million people to leave the USA, die, or retire to get our U6 to match our economic output.
    Obama: "If you like your Ebola, you can keep your Ebola!"

  8. #8
    MR Meek and Mild Epidemic's Avatar
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  9. #9
    Light to Counter the Dim MTAtech's Avatar
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    February 5, 2012, 10:35 amLies, Damned Lies, and Politics

    Recent facts have not been kind to the political right. A better-than-expected jobs report; a renewed focus on inequality, driven both by CBO research and by the gift of Mitt Romneyís candidacy. What to do?
    The answer is to throw a bunch of bogus numbers at the issues, in the hope that something sticks, or at least that the discussion becomes confused.
    First, about that jobs report: all the usual suspects have jumped on the routine BLS population adjustment to claim that the numbers were cooked. The real story here is that the BLS estimates unemployment based on a monthly survey; this tells us what fraction of workers are unemployed. To turn that into a number of unemployed, the BLS estimates total working-age population; but it updates those estimates only once a year. So thereís usually a step up or down in the totals each January, signifying nothing.
    Back in the Bush years there were a lot of bogus claims of huge job growth reflecting a step up in the population numbers. Now we have Rush Limbaugh, Fox, etc., claiming that a step down somehow implies fake calculations. Still not true. And the thing that makes this so tiring is that they keep trotting out the same old bogosity, no matter how many times it has been refuted.
    Conservatives: "If the facts disagree with our opinion, ignore the facts -- or at least misrepresent them."

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