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You don’t know, Jack

October 9, 2012

We all know what Jack Welch, former CEO of General Electric, said last week when the Bureau of Labor Statistics unemployment report showed that unemployment had dropped below 8% for the first time since 2009 or so.

Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers

Astounding.  A government agency staffed by career civil servants cooks the books to help the current administration get a second term?  What evidence did Welch have of the manipulation he alleges? None whatsoever (of course). Further, Andrew Gelman notes that under Jack Welch, General Electric manipulated its earnings reports and settled with the SEC over accounting fraud charges, and implies that Jack Welch is just projecting his own corrupt standards onto the BLS.  Nice.

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