jack welch ceo ge

After his tweet insinuating President Barack Obama is responsible for skewing the numbers in the September non-farm payrolls caused a stir today, former GE CEO Jack Welch told The Wall Street Journal today he “wasn’t kidding” when he sent the tweet. “I am doing nothing more than raising the question,” Welch said. “It’s fact-based.”

The Journal’s Kate Linebaugh breaks down Welch’s argument. His first question: How the unemployment rate can keep up with population growth without a net job growth of 150,000 to 200,000 per month. 

And he also drew scepticism to the household survey that showed growth of 873,000 jobs in the month:

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

Welch has drawn criticism for his remark — and also a healthy dose of followers to his belief. Republican Rep. Allen West said he agreed with Welch, and other conservative pundits have joined in as well

Ezra Klein has a good post at The Washington Post that debunks these theories. Goldman Sachs has also said that the drop in the unemployment rate makes sense, given “increases in both the labour force (+418,000) and the tally of jobs in the survey of households (+873,000), of which 187,000 was due to government.”

Read the full WSJ story here >

See the original tweet >

And our own Joe Weisenthal breaks down the report in the video below:

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