October 5th, 2012
11:17 AM ET
8 years ago

Jack Welch: Unemployment rate cooked

New York (CNNMoney) - The big drop in the unemployment rate a month before the presidential election brought cries of disbelief and conspiracy theories from Jack Welch and other critics of the Obama administration Friday. But the Labor Department was quick to dismiss such claims.

"Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers," tweeted Welch, the former CEO of General Electric.


Filed under: 2012 • Jobs • unemployment
soundoff (52 Responses)

    DENIAL is a terrible disease.

    October 5, 2012 11:19 am at 11:19 am |
  2. bob

    And I always thought the dems were the wimps. All these guys know how to do is blame the media and make up big conspiracy theories.

    October 5, 2012 11:25 am at 11:25 am |
  3. NameChi

    Wow, Jack what is wrong,the good news wont make u any money!!

    October 5, 2012 11:26 am at 11:26 am |
  4. zisee

    If anyone knows about money it is Welch. If he says the books were cooked, you better believe it. But that is so typical of this administration. There is NOTHING they won't do.

    October 5, 2012 11:29 am at 11:29 am |
  5. The REAL Truth...

    The crass political rhetoric displayed here is astonishing. Why would the Federal govt cook the books??
    Once again the right is shown to be a bunch on whiny babies, pointing fingers at the POTUS!!
    Heck even Willard LIED thru his teeth during the debate. Gas prices have NOT doubled in four years.
    Under Dubya the Natl average (even if he did have the highest price on record in July 08) was $3.76. Under the Obama administration is has been $3.74. Big woooo !! Willards statements along with Jack Welch's show how desperate the Repugs have become !

    October 5, 2012 11:30 am at 11:30 am |
  6. Thomas

    Jack ,
    keep up the good work with your online university and ripping of veterans !

    Bottom Line kinda guy !

    October 5, 2012 11:31 am at 11:31 am |
  7. RealityBites

    ABC, CBS, NBC and CNN's dishonest use of our first amendment is clear proof of the depths progressives are willing to stoop.

    October 5, 2012 11:34 am at 11:34 am |
  8. Lynda/Minnesota

    Jack Welch? Isn't he the guy that first endorsed the Tim Pawlenty for President campaign back in the spring of 2012? Said something to the effect that Pawlenty was the best qualified?

    Oh, well. So much for the Welch talking points.

    October 5, 2012 11:36 am at 11:36 am |

    Jack and the rest of you conspiracy theorists need to stop living in the Make Believe Mountains and come down to earth. It's you Republiklans who claimed there is wide spread voter fraud. But what you didn't tell us is that it was you doing it. Explain that one to me conspiracy theorists!!!

    October 5, 2012 11:37 am at 11:37 am |
  10. scarf

    Oh, please! If they're going to cook the books, why wouldn't they have done it for the last couple of years? If they're going to cook the books, why claim only 114,000 jobs created? Why not 363,000? Admit it, one or two numbers in a report don't tell the whole story, but you're too shallow to actually try to understand where the numbers you criticize come from.

    October 5, 2012 11:37 am at 11:37 am |
  11. Wake up People!

    I've been waiting for THIS response every since I saw the headline. This is one insane, dangerous party.

    Of course they're cooked, after all the Potus can't run on his record, he had nothing to do with Bin Laden being dead, the seals did all the work, he's incompetent and can only read off a teleprompter as he is illiterate and only got into Harvard due to Affirmative Action, he was born in a foreign country so he's not American, he hates America, especially whites (even though his beloved mother and grandmother were white as the day is long). Woo, did I miss any Faux talking points??? Shoot I forgot, he's a marxist, a kenyan, a communist blah, blah, blah.

    The rethuglican party aka the Insane Clown posse.

    OBAMA 2012!

    October 5, 2012 11:37 am at 11:37 am |
  12. julie

    upset much bob & zisee to bad.................................read me and weep chumps......................


    October 5, 2012 11:38 am at 11:38 am |
  13. demwit

    Hurray! $5 Trillion dollars to get unemployment down 1 point. Only 40 Trillion more to go!!

    October 5, 2012 11:38 am at 11:38 am |

    Can somebody please send Mr. Welch some cheese for his whine? I mean come on! They are trying to say since Romney won the debate that the numbers were fudged. By that logic, if Obama would have won, the unemployment rate would have gone up. Can't have it both ways people.

    October 5, 2012 11:39 am at 11:39 am |
  15. Luke Brown

    This is not even news. Why is it on here? It is newsworthy if Welch had some evidence to back it up. He doesn't.

    He is like all the rest of these Tea Party types: No substance, just hatred for Obama.

    (PS ... the unemployment numbers are determined by a formula that was in place throughout the Bush years. Funny, Welch is just bringing this up now with less than a month before the Presidential election.)

    Hey, CNN, here's a really good idea that many professional news organizations use from time to time. If you have doubts about something like the unemployment figures, go to the Labor Department and ask them to explain it to you ... then do a story on it.

    October 5, 2012 11:40 am at 11:40 am |
  16. FactCheck

    Hurray! $5 Trillion dollars to get unemployment down 1 point.
    I strongly suggest you go back to junior high and take some lessons in civics because it is obvious from your post that you do not understand these numbers AT ALL.

    October 5, 2012 11:43 am at 11:43 am |
  17. scarf

    If anyone knows how to cook books, it's Jack (0% taxes) Welch.

    October 5, 2012 11:43 am at 11:43 am |
  18. Alex

    Jack, what is the number do you want to see? You and your filthy rich friends have enough money to change it. Why didn't you do it.

    October 5, 2012 11:46 am at 11:46 am |
  19. rs

    Considering thet their candidate (Mr. Romney) lied his way through a 9o minute Presidential debate in such breathtaking fashion, I wouldn't want to try to step forward and say these employment figures were cooked- even if I thought they were. It really seems that the GOP lives in some parallel but alternate universe where there is no truth.

    October 5, 2012 11:47 am at 11:47 am |
  20. Paul_I

    Jack Welch is pioneered the strategy that the sole purpose of a corporation is to build shareholder value. He then took the concept to its extreme by buying and selling companies that were not the first or second highest performer in its category. It did not matter that people lost their jobs. It did not matter that people lost their health care benefits. It did not matter that people's pension benefits were impacted. It only mattered that shareholders got more. If anyone knows how to cook the books, it's Jack!

    October 5, 2012 11:48 am at 11:48 am |
  21. The REAL Truth...

    @RealityBites – ABC, CBS, NBC and CNN's dishonest use of our first amendment is clear proof of the depths progressives are willing to stoop.
    But it's OK to have Fox and all the right leaning media outlets along with Crossroads GPS, Americans for Prosperity, Arkansas Young Guns, Campaign for Working Families, Citizens United, Political Victory Fund, Conservative Victory Fund and the others do the same ??
    Reality sure does bite when the deck is NOT stacked in your favor. Thanks for playing.

    October 5, 2012 11:53 am at 11:53 am |
  22. Sniffit

    I love the smell of Teatroll desperation in the morning. Waft some more of that over here...

    October 5, 2012 11:55 am at 11:55 am |
  23. John

    Can't believe Tom Foreman's CNN analysis of Obama's comment "There have been 5 million additional private sector jobs added in the last 30 months".(Bureua of Labor Statistics)................I have added the private sector jobs up in the last 30 months, and low and behold they total 5 million plus......Tom Foreman ruled that statement FALSE. Either he is biased, intentionally lied, or just made a mistake....in any case, he should apologize for his false analysis.

    October 5, 2012 11:56 am at 11:56 am |
  24. NameFrank

    So Jack, what's you opinion of Big Bird?

    October 5, 2012 12:01 pm at 12:01 pm |
  25. Mack

    He's just bitter because he treats his money like family and he's going to have to separated from some of it when he's forced to pay his fair share. The rich have had it too good for too long.

    October 5, 2012 12:02 pm at 12:02 pm |
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