Unemployment Definition - Abbott and Costello

There must be an English translation somewhere

Posted by John Rixey Moore at March 8, 2012 12:22 PM

There must be an English translation somewhere

Posted by John Rixey Moore at March 8, 2012 12:23 PM

By this methodology, if enough people were out of work for long enough, the unemployment rate could, theoretically, drop to zero percent. Therefore, the methodology cannot be correct.

Why doesn't somebody in the media point that out?

Oh, never mind....

Posted by ELC at March 8, 2012 5:33 PM

That's exactly correct. If everybody was laid off, exhausted their benefits, and stopped looking for work, the unemployment rate would drop to zero.

We've come to a pretty pass when Abbott and Costello make more sense than the Bureau of Labor Statistics.

Posted by rickl at March 8, 2012 6:21 PM

Once again, truth is the ultimate casualty.

Remember when the Soviet people had to stand in line for loaves of bread, and the Communist Party would have their State media organs trumpeting bumper crops of wheat so that the people would think the shortages would be ending soon...even though there was no bumper crop?

The Left has their American Pravda accomplishing the same results.

Borrowing a sentiment from one of the Founders...We live in a time when speaking the truth is a revolutionary act...

Posted by Bruce O'H. at March 10, 2012 5:20 AM

I bet if everyone quit looking for work, there would be a lot more job openings. Then we would have an administration creating a new record in job vacancies, once again proving ... something...
Just like the surge in oil and gas produced on private property is the result of the administrations manipulations... sure.
tom

Posted by tomw at March 19, 2012 7:53 AM