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Abbott and Costello explain the unemployment rate

Thanks to U Chicago's Allen Sanderson for sending this along:COSTELLO: I want to talk about the unemployment rate in America.ABBOTT: Good "subject". Terrible "times". It's about 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, that's 16%.COSTELLO: Okay, so it's 16% unemployed.
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Should College Football Be Taxed? Bring Your Questions for Allen Sanderson

Society & Culture : Freakonomics (3 years ago)

Allen R. Sanderson is an economist at the University of Chicago who enjoys, among other things, writing about sports. Some of his past work includes pieces on the puzzling economics of sports, why ties should be allowed in baseball,... Read Post

Unemployment vs. Out of Work

US Politics / Conservative : NRO: The Corner (3 years ago)

A few days ago, Greg Mankiw posted this amusing dialogue about the unemployment rate, as if Abbott and Costello had to discuss it. Here is a tidbit of the exchange: COSTELLO: I want to talk about the unemployment rate in America. Ke... Read Post

Economists and Comedians

Business & Finance / Career & Jobs : Execupundit.com (3 years ago)

At Anderson Layman's Blog, Abbott and Costello discuss unemployment. An excerpt: COSTELLO: I want to talk about the unemployment rate in America. ABBOTT: Good "subject". Terrible "times". It's about 9%. COSTELLO: That many people ar... Read Post


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