Jack Welch Doubles Down On Allegation September Jobs Report Was Falsified: ‘I Wasn’t Kidding’

Jack Welch Doubles Down On Allegation September Jobs Report Was Falsified

Former General Electric CEO Jack Welch caused a stir on Friday morning when he took to his Twitter account to allege that the Bureau of Labor Statistics fudged the numbers on their September jobs and unemployment reports to show the official rate dropping below 8 percent. “I wasn’t kidding,” Welch said in an interview.

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“Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers,” Welch tweeted after the September jobs numbers showed the official unemployment rate dropping three tenths of a point in one month.

“I am doing nothing more than raising the question,” Mr. Welch said in an interview published in The Wall Street Journal. “It’s fact-based.”

Welch said that the nation needs to be adding between 150,000 and 200,000 jobs per month in order to just keep up with population growth, let alone drive the official unemployment rate down. “We haven’t reached those numbers at all,” said Welch of September’s 114,000 new jobs added.

He said that the household survey, which showed 837,000 people rejoining the workforce, was at odds with the number of new jobs added in September.

“The economy doesn’t feel like it added 873,000 jobs in September,” Welch said. “There are a number of things here that are open to discussion.”

Read the full interview via The Wall Street Journal

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