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JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful
Business Insider ^ | 10/05/2012 | Brett LoGiurato

Posted on 10/05/2012 6:56:20 AM PDT by SeekAndFind

Former GE CEO Jack Welch's reaction to non-farm payrolls adding 114,000 new jobs in September and the unemployment rate falling to 7.8 percent:

Jack Welch Obama

Twitter/@jack_welch

Looks like Welch already was predicting this last night:

Jack Welch Obama

Twitter/@jack_welch


(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: election2012; jackwelch; magicnumbers; obama; unemployment

1 posted on 10/05/2012 6:56:22 AM PDT by SeekAndFind
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To: SeekAndFind
It takes longer than a day to create these numbers. This has been in the works for a while.

About two weeks or so ago there were news stories about how the Department of Labor "found" over a half million jobs by correcting their survey methods (or something like that). I know it was discussed on FR, but I can't find the stories. It looks like they counted them all this month so that even if only slightly over 100,000 new jobs were created all those jobs hiding under the couch get counted just in time for the election.

Does anyone know where to find those stories? I tried, but I couldn't find them.

2 posted on 10/05/2012 6:59:19 AM PDT by KarlInOhio ("Government is the only thing that we all belong to"=implicit repeal of the 13th amendment for all.)
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To: SeekAndFind

The Romney camp needs to dismiss these numbers as Chicago Math. They must not accept the data, period.


3 posted on 10/05/2012 7:00:31 AM PDT by gov_bean_ counter (ObamaCare is an assault on the unborn, infirmed and elderly. GOP, repeat this as necessary...)
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To: SeekAndFind

ebay jobs. Selling their children’s possessions as “like new”.


4 posted on 10/05/2012 7:01:56 AM PDT by Berlin_Freeper (Obama at the UN: The future must not belong to those who slander the prophet of Islam.)
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To: SeekAndFind

This is truly criminal.

Congress can’t touch the president but they can pull in the people who actually followed the orders and those who knowingly manipulated the data.

Hold them responsible in hearings conducted in full public view.


5 posted on 10/05/2012 7:02:57 AM PDT by Iron Munro (Obamaspeak: An army of pompous phrases marching across the landscape in search of an idea.)
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To: SeekAndFind

Pretty sure Rush said this would happen as the election got closer.


6 posted on 10/05/2012 7:03:21 AM PDT by texaschick
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To: gov_bean_ counter
The Romney camp needs to dismiss these numbers as Chicago Math. They must not accept the data, period.

Which by the way, I've been saying for a full year on American Thinker, including last week:

http://www.americanthinker.com/2012/09/should_mitt_hire_jay_leno_and_pat_caddell.html

http://www.americanthinker.com/2012/06/how_obama_might_just_break_even_on_jobs.html

http://www.americanthinker.com/2011/12/os_legacy_unemployment_rate_now_meaningless.html

7 posted on 10/05/2012 7:05:10 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: SeekAndFind

Please note that 4th (from left) retweeter (Ben Franklin avatar). That’s me. I am famous this morning. LOL!


8 posted on 10/05/2012 7:05:22 AM PDT by nhwingut (Sarah Palin 12... No One Else)
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To: Iron Munro

In the Government the low level employees are generally quite honest. But the top leadership are political appointees and so of course they must be creatures of the current Administration and obey the Administration to keep their jobs.

Very possible, even likely with the current Administration that the numbers were “adjusted” by high level people. Not that hard, especially with the statistically estimated jobs.


9 posted on 10/05/2012 7:07:09 AM PDT by OldArmy52 (The MSMedia functions in the USA as Pravda functioned in the USSR.)
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To: texaschick

After the 3rd debate, the jobs rate will plunge to -20%.

There will actually not be enough humans alive to fill all the empty positions.


10 posted on 10/05/2012 7:09:11 AM PDT by Salamander (Like acid and oil on a mad man's face, his reason tends to fly away.)
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To: SeekAndFind

Brett from Barack Insider is a partisan hack. If you read what he posts, it’s typically pro obama, anti romney. But that is what Barack Insider does run by disgraced criminal and fraudster Henry Blodgett. Business Insider is a arm of the Barack campaign trying to get him re-elected.


11 posted on 10/05/2012 7:10:16 AM PDT by MAD-AS-HELL (There's a revolution "brewing".....)
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To: SeekAndFind

I didn’t watch the debate due to a prior commitment, but Obama must have been awful if the unemployment number is 7.8.

I agree with Jack.


12 posted on 10/05/2012 7:14:42 AM PDT by moviefan8
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To: KarlInOhio
Is this it?

Nearly 400,000 More Jobs Added Than First Thought

13 posted on 10/05/2012 7:19:15 AM PDT by Madame Dufarge
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To: moviefan8

RE: I didn’t watch the debate due to a prior commitment

______________________________

Well, if you want the full replay of the debate, here it is:

http://www.huffingtonpost.com/2012/10/04/first-presidential-debate-2012-video_n_1938234.html

And that’s just one site you can go to.

The audience of Kennedy vs Nixon never had this privilege.


14 posted on 10/05/2012 7:20:15 AM PDT by SeekAndFind (bOTRT)
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To: Berlin_Freeper
ebay jobs. Selling their children’s possessions as “like new”.

Counting the same kind of "jobs" that now qualify as "employment" for welfare - getting massages, writing in your diary, etc.

15 posted on 10/05/2012 7:24:09 AM PDT by Paine in the Neck (Socialism consumes everything)
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To: OldArmy52

Yes, all very true. I’d also add that what you describe will have left a mountain of evidence that an “adjustment” took place.

Remember Climategate and the emails regarding the “hockey stick” graphic? Its not like some manager erased some numbers and replaced them with ones he prefered. Number cooking at this level can’t happen without it being described in detail and documented in all sorts of communications chains.

Issa needs to go after this, go after it hard and go after it now.


16 posted on 10/05/2012 7:27:17 AM PDT by tanknetter
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To: Madame Dufarge
Bullseye. And the press cheering about the big increase in employment today have already "forgotten" it. It's like watching a professional wrestling match where everyone but the ref can see the guy swinging the folding chair.
17 posted on 10/05/2012 7:32:44 AM PDT by KarlInOhio ("Government is the only thing that we all belong to"=implicit repeal of the 13th amendment for all.)
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To: KarlInOhio

The “press” - America’s Official Red-Light District.


18 posted on 10/05/2012 7:40:00 AM PDT by Madame Dufarge
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To: Iron Munro

“Hold them responsible in hearings conducted in full public view.”

Like the hearings on Waco and “Fast & Furious”?

Congressional hearings are kabuki theater to fool the sheeple into believing there is still rule of law in the U.S.


19 posted on 10/05/2012 7:43:00 AM PDT by MikeSteelBe (Austrian Hitler was, as the Halfrican Hitler does.)
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To: SeekAndFind

How is the “Household Survey” done and do they count people working more than one job as >1?


20 posted on 10/05/2012 7:45:37 AM PDT by OrioleFan (Republicans believe every day is July 4th, Democrats believe every day is April 15th.)
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To: SeekAndFind

It doesn’t take a big conspiracy to rig the jobs numbers. All it takes is a few people in key positions in the administration. If you think Welch doesn’t have a strong factual basis for this accusation, then you don’t know Jack.


21 posted on 10/05/2012 7:51:19 AM PDT by socialism_stinX (Boycott all shows on ABC, CBS, CNN, NBC, and MSNBC, and report your boycott in your Nielsen survey.)
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To: KarlInOhio

IMNO, this number was going to be under 8% at this point of the election cycle regardless...


22 posted on 10/05/2012 7:52:11 AM PDT by gov_bean_ counter (ObamaCare is an assault on the unborn, infirmed and elderly. GOP, repeat this as necessary...)
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To: SeekAndFind

Thank you.

I will watch it this weekend.

FR is the best!

On a different note, the movie Argo is very good. I thought Warner Bros. did a great job. Just a warning there is Jimmy Carter voiceover at the end.


23 posted on 10/05/2012 9:42:59 AM PDT by moviefan8
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To: StarFan; Dutchy; alisasny; BobFromNJ; BUNNY2003; Cacique; Clemenza; Coleus; cyborg; DKNY; ...
ping!

My husband said Jack Welch was all over Twitter and CNBC this morning, outraged at the FAKE 7.8% unemployment number...

24 posted on 10/05/2012 10:52:00 AM PDT by nutmeg (I'm with Sarah Palin and Ted Cruz: Romney / Ryan 2012)
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To: KarlInOhio

Dems lie. Period.


25 posted on 10/05/2012 11:02:36 AM PDT by Monkey Face (A clean desk is a sign of a sick mind.)
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To: nutmeg

BTTT


26 posted on 10/05/2012 11:42:13 AM PDT by nutmeg (I'm with Sarah Palin and Ted Cruz: Romney / Ryan 2012)
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To: nutmeg; All
Here's a more accurate take on all of this:
Friday, October 5, 2012
Economics, Pethokoukis

The sickly, stagnant September jobs report

romerbernsteinSeptember2012

Is this the Obama October Surprise?

Only in an era of depressingly diminished expectations could the September jobs report be called a good one. It really isn’t. Not at all.

1. Yes, the U-3 unemployment rate fell to 7.8%, the first time it has been below 8% since January 2009. But that’s only due to a flood of 582,000 part-time jobs. As the Labor Department noted:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

2. And take-home pay? Over the past 12 months, average hourly earnings have risen by just 1.8 percent. When you take inflation into account, wages are flat to down.

3. The broader U-6 rate — which takes into account part-time workers who want full-time work and lots of discouraged workers who’ve given up looking — stayed unchanged at 14.7%. That’s a better gauge of the true unemployment rate and state of the American labor market.

 

4. The shrunken workforce remains shrunken. If the labor force participation rate was the same as when President Obama took office, the unemployment rate would be 10.7%. If the participation rate had just stayed steady since the start of the year, the unemployment rate would be 8.4% vs. 8.3%. Where’s the progress? Here is RDQ Economics:

*snip*

.

Bottom line: The U.S. labor market remains in a deep depression with virtually no recovery since the official end of the Great Recession. But the Long Recession continues unabated.

 

More at The Link
27 posted on 10/05/2012 11:45:39 AM PDT by Syncro (The Tea Party is Dead!--MSM/Dems LONG LIVE THE TEA PARTY!)
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To: SeekAndFind
I'd like to see Jack somewhere in a Romney administration.

Smart man.

The Kenyan must go.

28 posted on 10/05/2012 4:02:54 PM PDT by ex91B10 (We've tried the Soap Box,the Ballot Box and the Jury Box; ONE BOX LEFT!)
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To: nutmeg

Thanks for the ping!


29 posted on 10/05/2012 8:51:01 PM PDT by Alamo-Girl
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To: nutmeg

thanks for the ping


30 posted on 10/05/2012 10:26:53 PM PDT by GOPJ (You only establish a feel for the line by having crossed it. - - Freeper One Name)
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To: nutmeg

Your husband was right! Welch’s tweet was da’ bomb! It got the whole country talking!

Somehow, I don’t think the new unemployment # will help the O, at all.

Next up...the Ryan / Biden debate.

As I saw one dem operator say, they are stuck in Debateland until the election. Not a good place for them to be.


31 posted on 10/06/2012 12:38:50 AM PDT by dixiechick2000 (~~~RAGE ~~~ I haz it.)
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