10 October, 2012
Former GE CEO Welch repeats: "Unemployment drop didn't happen"
Former General Electric CEO Jack Welch herein expands on his statement that the economy would have to be growing at warp speed in order for the unemployment rate to drop from 8.3% to 7.8% in three months- and, that obviously not being the case (and the other economic numbers being wholly at odds with such a phenomenon), the recently-released employment figures simply cannot be accurate. He points out that even the liberal New York Times editorialized last Sunday that the drop from 8.1% to 7.8% was "partly due to a statistical fluke."
He also has a few choice words for Obama administration officials who have tried to silence the widespread criticism of the implausible numbers. Adminsitration officials have even charged Welch and other critics of the numbers with "trying to talk down the economy."