Jack Welch: Unemployment Rate Cooked
Update 1. Jack Welch defends his Tweet on Fox News. See last entry.
Writing for CNNMoney Chris Isidore writes: "NEW YORK (CNNMoney) -- The big drop in the unemployment rate a month before the presidential election brought cries of disbelief and conspiracy theories from Jack Welch and other critics of the Obama administration Friday. But the Labor Department was quick to dismiss such claims.
"Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers," tweeted Welch, the former CEO of General Electric (GE, Fortune 500). Welch did not respond to a request for further comment on his tweet.The unemployment rate fell to 7.8% in September, down from 8.1% a month earlier. The drop was due to the Bureau of Labor Statistics' survey of households showing that 873,000 more people had jobs than in the previous month. That was the biggest one-month gain in more than nine years.
Welch wasn't alone in raising questions about the jobs numbers. Americans for Limited Government, a conservative group that has been a steady critic of the Obama administration, issued a statement that said the numbers the BLS "used to calculate the unemployment rate are wrong, or worse manipulated. Given that these numbers conveniently meet Obama's campaign promises one month before the election, the conclusions are obvious...Anyone who takes this unemployment report serious is either naive or a paid Obama campaign adviser."
Conn Carroll, a senior writer at the conservative Washington Examiner suggested a slightly less nefarious form of manipulation of the data.
"I don't think BLS cooked numbers. I think a bunch of Dems lied about getting jobs. That would have same effect," he tweeted. "Would love to see the partisan breakdown of the 873,000 Americans who say they got new jobs."
More at the link below.
Update 1. Edit 18:19, Jack Welch defends his Tweet on Fox News here: http://video.foxnews.com/v/1880778306001/