Unemployment vs. Out of Work Explained

I've always been a Abbot and Costello fan (selectively), because my dad has always been one (& he's the best)...and well...maybe it runs in the genes....I don't know. Good humor...and good laughs...
Anyway, the following crossed my path, and I had to share it. Enjoy...and please don't count yourself as one of the "out of work"!!

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, that's 16%.

COSTELLO:  Okay, so it's 16% unemployed.

ABBOTT:  No, that's 9%...

COSTELLO:  WAIT A MINUTE. Is it 9% or 16%?

ABBOTT:  9% are unemployed. 16% are out of work.

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

ABBOTT:  No, 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 my 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 who?

ABBOTT:  The unemployed.

COSTELLO:  But they are ALL out of work.

ABBOTT:  No, the unemployed are actively looking for work... 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 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 you get to 9%. Otherwise, it would be 16%. You don't 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 they're 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 you're thinking like an economist.

COSTELLO:  I don't even know what I just said!

And now you know why our National unemployment figures are improving!

The soul of the sluggard desireth, and hath nothing: but the soul of the diligent shall be made fat.

~ Proverbs 13:4 ~

(In other words, "Lazy people want much but get little, but those who work hard will prosper and be satisfied.")