Bud has spent all day finding a job. He is working in a bakery "loafing", to the confusion of Lou in their comically classic "Loafing" routine. Bud is frustrated that Lou isn't looking for a job. Lou gets a job delivering hats to the Susquehanna Hat Company on Floogle Street. In asking for directions he comes across several enraged, oddball characters who have their own reason for despising Floogle Street or the company's straw hats, destroying them in their classic "Susquehanna Hat Company" routine. Lou and Stinky have a couple of comical exchanges. Needing money to pay for the hats, Bud suggests Lou stops the first well-dressed man he sees and asks where he can get a job, which backfires. Lou tries to find another job at Fields Employment Agency. Their plan is to pretend they don't need a job and criticize the office.
Even aside from two of their signature routines there's a lot of comedy in this episode. As the first season progressed it seems the loose plots tightened up a little bit.