Skip to comments.JACK WELCH REFUSES TO BACK DOWN ON UNEMPLOYMENT NUMBERS IN FIERY EXCHANGE WITH CHRIS MATTHEWS
Posted on 10/06/2012 7:21:45 AM PDT by Snuph
In a heated debate with MSNBCs Chris Matthews, former General Electric CEO Jack Welch doubled-down on his claim that the Bureau of Labor Statistics survey released Friday, which showed a spike in employment and a drop in the unemployment metric from 8.1 percent to 7.8 percent, is bogus.
Welch explained his rationale to the MSNBC host:
We had 600,000 government jobs added in the last two months. We had 873,00 jobs by a household survey which is a total estimate from 50,000 phone calls. Of those, 600,000 were temporary workers. Chris, these numbers are all a series of assumptions. Tons of assumptions. And it just seems somewhat coincidental that the month before the election, the numbers go one-tenth of a point below where the president started. Although, I dont see anything in the economy that says these surges are true.
(Excerpt) Read more at theblaze.com ...
The comments are only controversial because a lib talking head says so.
These numbers are inconsequential. (BTW, anybody else remember Reagan’s charge on the unemployment numbers just before the ‘80 election? “These numbers have been Jimmied.”) The median household decline of $4000 + is the one that counts and the one people have felt; it’s baked into the model that predicts Obama’s loss. Romney already leaped over the debate bar as well, by looking like he could handle himself as President, which of course, McCain failed. Now with a foreign donor scandal that the Democrats will not be able to defend themselves from thanks to Axelrod’s “assertions don’t need evidence” argument about alleged foreign contributions to the Chamber of Commerce in 2010, all the Republicans will be doing for the last month is picking off strays.
They all seem to think they will be the ones left standing when Obie achieves his ultimate goal. Much like businessmen, ministers, and media did with Hitler. We all know how that worked for those “folks”.
All Welch needed to say was, “If this type of jobs surge happens for a Mitt Romney administration - in ANY month - would you defend it as vigorously as are defending the Obama BLS?”
In this argument I don’t think I’s use the GDP numbers as that is backward looking number...the numbers which are pertainent in my view are the number actually working, the hours worked reports and the payroll dollar amounts. NONE OF THESE support any reduction in the unemployment rate, especially of that magnatude.
Unfortunately, it is what it is and this is the number the press will ballyhoo for the next 30 days.
There is the old joke about the CEO hiring a CFO. He had three candidates. He asked each the same question, how much is two plus two. The first said 4. CEO said get out. Asked the second and he said 22?. Get out. Asked the third and he said, well, what do you want the number to be. HIRED.
Standing in line yesterday in Southern California (Trader Joes) the checkout girl who was quite young asked the woman next to me an d myself if we were happy about the new UE numbers. Woman next to me says: “ the numbers are a lie and we all know it”. Her daughter knodded in agreement (20+ years). I agreed with them and the cashier just smiled and kept quite after that. She seemed like a nice kid however misguided.
Well Jack, karma payback can be a bitch.
Didn’t you help create and fund MSNBC while you were the CEO of GE with the so purpose of helping your bud, Billy Clintoon.
It seems that you were the reason that twitchy Christy was hired, and you protected him over the years when he defended Clintoon and Obozo, and when he lied to attack GW.
Romney must have read your post! :)
Romney: This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and weve lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11%."
My prediction for the Paul Ryan vs Bozo debate coming up; Ryan will shove this fact (in a very firm but polite way!!), down Bozo's throat.
I heard what he said on a radio report, just the sound bite and it was good. If the situation were reversed, the dem response would be played as the lead in every show and front page for days. For an "R" you sometimes don't even get the sound bite played.
Sad but true.
If Obama loses the next debate we might have 5% unemployment by the election...
Chrissy is such n Obama butt monkey...
133,561,000 workers Jan 2009
133,500,000(P) workers Sept 2012
Total Non Farm Payroll Seasonal Adjusted
Bureau of Labor Statistics
I couldn’t listen Friday, either. Rush has to wallow in defeatism at least once per week. I sometimes wonder if he has some form of bi-polar disorder. He gets too low and too high.
BTW, it always infuriates me why the GOP and Romney NEVER mention that this 8% unemployment doesn’t include those who’ve stopped looking for work, and stopped collecting unemployment because they’ve hit the 99 week mark! The pie is shrinking, and they keep accepting these bogus numbers. Isn’t real unemployment around 11 or 12%?
I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.
It makes no sense to report the percentage of unemployed that is reduced when people cease to get unemployment benefits without getting a job, as the true picture.
The real (U6) unemployment number remained flat. Someone posted yesterday that was 14%, but Romney said in a speech yesterday that it was around 11%. So I would go with that.
Furthermore, the new jobs created from the employer survey was only 114,000 not enough to budge the unemployment figures down at all. The household survey reported 600,000 new jobs, but is not as accurate as the employer survey. Some one posted yesterday that the margin of error was 400,000??
What I would do is to look at how many people were employed when Obama took office and what is that number now? What was the “real”(U6)unemployment % number then and now. What was the number of new jobs created from the employer survey, how many were lost, and how many were private sector vs public sector jobs.
Wow...thank you for posting this! I hadn’t read this yet! As I mentioned, this push back on this illusion that we are at just under 8% unemployment is very encouraging. This UPDATE on Romney’s Response to this bogus crap is also very encouraging! I hope he kicks the Kenyans A$$ with Ads saying as much, and a strong confrontation at the next debate. There’s no way Obama can fix his stupidity and lazyness in a 2 weeks! ;-)
Thanks again for the link!
Matthews loves throwing Chrissy-fits.
Leno Mocks Straight-Jacketed Matthews Being Taken Away Mid-Meltdown By Men in White Coats
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