Abbott and Costello explain government’s calculation of unemployment: COSTELLO: I want to talk about the unemployment rate in America . ABBOTT: Good Subject. Terrible Times. It’s 9%. COSTELLO: That many people are out of work? ABBOTT: No, that’s 16%. COSTELLO: You just said 9%. ABBOTT: 9% Unemployed. COSTELLO: Right 9% out of work. ABBOTT: No, [...]
Tag archives for Unemployment
Unemployment, Real vs. “Official”
The true level of unemployment is being understated, just as other government statistics are being manipulated to present a more favorable picture for the political class. Matters appear to be getting so disgraceful that even financial wards of the State feel compelled to criticize the practice. Here is Doug Ross’ article on Bank of America’s [...]
Experiencing The Tragedy
An economic tragedy like the one we are in cannot be explained only with statistics. Michael Panzner provides an example of the pain that is un-captured by numbers: From “Stories of Unemployment – The Recession and Unemployment,” in the March 2012 issue of Esquire: “Ninety-four weeks of looking for work. That’s a lot of mornings to wake up [...]
Unemployed vs. Out of Work from Abbott & Costello’s World
Humor, of sorts, as received from a reader. Obviously this was inspired by the famous Abbott and Costello baseball sketch Who’s on first? Never mind that it is funny. It explains perfectly how the unemployment rate has been dropping. COSTELLO: I want to talk about the unemployment rate in America . ABBOTT: Good Subject. Terrible Times. It’s [...]
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