Unemployment Explained

[Cooperhawk]

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, 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 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 Obama.

 

[john guedry]

Loved those guys. They kept us all laughing, way back when.

 

[picketpin]

My Uncle always said you could make statics say whatever you wanted them to say.

If you use the definition they used for the crash of 1929 and the Great Depression, over 16 and under 65 that had no job and wanted one, the unemployed rate was 28%. Compared to 34% at the peak of the 2008 Period of Downturn.

Now we use the rate of unemployment, the people in the work force that are able to collect an actual UNEMPLOYMENT check.

Fewer than 50% of Americans even qualify for unemployment. Many jobs or unemployed do not count in the number as now used. Those working less than 32 hours a week are /were part time so don't qualify. If you qualify and get a benefit and burn it but still not employed full time, you do not qualify so you aren't counted. If your in an exempt category, in Idaho that's most agriculture employees.IN a state like Idaho where ijn many counties where the vast majority are Ag, their employer is NOT required to pay into the fund, thus if you as a laid off employee don't qualify so you are not counted.

Owyhee County, Idaho has and has always had the lowest unemployment rate in the state of Idaho. The 4th largest county in the US with less than 10,000 people the vast majority that work Ag in one form or the otheer Many for cash, off the books with not only no unemployment but no SSA when and if they ever get to retire. The two largest corp orations in the county are AG. At least 80% of there employees either "Oficially" work less than 40 hours a week or are seasonal by nature. So at the higth of this one they nevr officially went above 3.8 unemployment, the lowest in the state.

Didn't mean the had jobs, just that they didn't qualify for Unemployment Benefits, thus they were not counted. A LOT of guys and there families would have starved had they not been able to retreat to the family farm/ranch and work for mom and dad for free, no wages but at least a roof over their head and something t eat.

Now that the latest is officially over the county is back down to --------3.8%.

Who's on first.....

RWT

 

[Xsales]

It is always how you present or twist the numbers

Nothing but a propaganda shell game