Posted on 10/06/2012 7:21:45 AM PDT by Snuph
In a heated debate with MSNBC’s 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 don’t see anything in the economy that says these surges are true.”
(Excerpt) Read more at theblaze.com ...
“I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.”
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Exactly!
Glad to hear Romney’s pushing back on this. I think they should do an ad blitz discussing this U6 number in a very simple, easy to understand way. Romney should craft his message to those who “are NOT counted.” This would hit a home run and show this POS Marxist for who he is!
First he should get elected president, then call him out because arguing over .3 drop even if dodgy isn’t going to fire up many voters.
Don’t fall for tricks that take away from a Positive News cycle for Romney. A Romney positive news cycle >> Obama negative news cycle.
1 - The 873,00 jobs added is a BLS estimate. Not based on any hard employment data.
2 - To arrive at the 7.8% rate the administration went back and bumped the July employment up by 40,000 and bumped the August employment up by 46,000.
Jack Welch Refuses to Back Down on Unemployment Numbers in Fiery Exchange With Chris Matthews
“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 don’t see anything in the economy that says these surges are true.”
U.S. unemployment rate falls to 7.8 percent
"In addition, job gains were revised upward by 40,000 for July (to 181,000) and by 46,000 for August (to 142,000), casting a slightly rosier light on what had been perceived as a summer slump."
Another thing Welch needed to say/ask was:
“Chris, aren’t YOU and the folks in the media just a little bit interested in looking into the details of the data to see WHETHER OR NOT these numbers, WHICH SEEM TO DEFY LOGIC, are actually true? Aren’t you and other members of the media charged with the responsibility to ensure that our government is, in fact, being honest with the people? Or are you simply willing to accept everything they tell you, DESPITE EVERY INDICATION that what they are telling you CAN’T POSSIBLY BE TRUE, in which case, might you not expect to suffer from a lack of confidence from the American voters (as witness, your falling ratings)?
I didn't mean to sound like I was trashing him, but i was surprised that he didn't show any encouragement from the push-back that was happening almost immediately to this predicted 7.8% number.
Hey, I understand he's a human being...probably just having a crappy day overall.
:: I sometimes wonder if he has some form of bi-polar disorder ::
I’ve been wondering lately if he’s back on the Hillbilly Heroin. He’s been sniffling quite a bit over the last 8 months - a long time to shake a head cold...
By the way...did you happen to check where your “Jack Welch” link goes to? ;-)
Excellent! Thank you for posting this chart. It speaks volumes.... Make a new post for it on the forum please.
At the risk of sounding like I am overstating, I truly believe that the same kind of self-convinced, narcissistic, ideology-driven, AND ‘payback’/vengeance-driven motivation that ran through Hitler runs through people like Obama, Chavez, Wright, Farrakhan, Ayers, etc. It's the same, and just as dangerous. Also, each and every one of them was/is totally convinced that they were/are doing the right thing for the world. I would prefer to have a crook in power who just wanted to make some money than to have the kinds of dangerous ideologues that we have on the left at this point in history.
Yeah, but that’s because of the Chevy Volt...So, what’s your point?
/sarc off
the general consensus that there needs to be in the neighborhood of 200K +- to just about break even, and that number might even be bigger. A 4/10 move could only really come from an economic growth rate of like 9% and we had a jump of only 1%.
The report flies in the face of every economic principle which is why they predicted the rate rising based on the actual job increase of 114k. The drop came from the fact that people quit working, quit looking and withdrew from the workforce in record numbers. The fact that Obama is cheering the loss of a few hundred thousand people from the workforce speaks volumes.
Bottom line, the numbers are bunk and they will be revised upward sometime next month, after the election.
I would not be surprised that, if and when Romney wins the presidential election, Chrissy baby would blow his brains out.
Hey Chris, it’s not about evidence, it’s about the seriousness of the charge!
Remember?
This number is extremely disturbing. What the H*ll are these people hired to do?
Our Republic cannot survive with more and more parasitic bureaucrats being hired by the Federal leviathan.
If Romney is elected I pray that Boehner will not be the Speaker. We need to gut as much of the unconstitutional parts of government as possible.
Our leaders can gut it through the legislative process (the right way) or through continued debasing of our currency and eventual insolvency (not desired, but likely way)
There's no way to spin THAT loss of 5 million jobs.
Team Romney needs to keep those HARD figures in the public eye, and not the manufactured percentages and projections that the current administration is using.
He DOES on the campaign trail and DID in the last debate.
I fear for this country.
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