Tonight on 360: Jack Welch's Conspiracy Theory on Jobs Report
October 5th, 2012
06:08 PM ET

Tonight on 360: Jack Welch's Conspiracy Theory on Jobs Report

Anderson will talk with former GE CEO Jack Welch tonight about his Twitter comment that's creating a lot of buzz.

"Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers," Welch posted on the social media website moments after the U.S. Labor Department said the unemployment rate fell to 7.8 percent in September for the first time since Pres. Obama took office in 2009.

The drop from 8.1 percent in August was due to a Bureau of Labor Statistics household survey, which found a monthly gain of 873,000 jobs.

The BLS denies cooking the numbers.

"No political appointee is involved in the collecting, processing and analyzing of the data," said Thomas Nardone of the Bureau of Labor Statistics.

Labor Secretary Hilda Solis is also speaking out, telling CNN,
"This is a methodology that's been used for decades. And it is insulting when you hear people just cavalierly say that somehow we're manipulating numbers."

After that feedback, does Mr. Welch still stand by his tweet? Anderson will ask him tonight on 360. Don't miss the interview at 8 and 10 p.m. ET.

Part one of the interview here:

Ali Velshi joins the interview in part two here:

soundoff (15 Responses)
  1. Mario Torres

    The economy needs to create 150,000 to 160,000 jobs a month to just keep the UNEMPLOYMENT rate the same. Economist were predicting 114,000 jobs and that the UNEMPLOYMENT rate would increase to 8.2%. It would take the creation of 600,000 to 800,000 jobs to drop the UNEMPLOYMENT rate 3/10s of a percent. That didn't happen. Our Chicago Way President RIGGED these numbers, and that is NOT positive news!

    October 6, 2012 at 1:33 am |
  2. Kathy90

    As a Canadian, I don't feel that I have the right to comment on the candidates or my view of them. However, I am appalled that wealthy, influential men like Jack Welch and Donald Trump can claim with no substantiating evidence that Obama personally and his administration are corrupt and/or liars with no regard to facts. Surely this is not what the majority of the great American public believe is fair play! Play fair or keep your libelous opinions off the social networks!

    October 5, 2012 at 11:09 pm |
  3. Lindsey

    Did Jack Welch direct General Electric to bribe foreign officials to allow access to their markets? Did Jack Welch hide much of his income from the IRS? I have absolutely no evidence to prove any of that. But, like Jack I think I should ask these irresponsible and unwise questions as long as I'm sure to put a question mark after the question, because that makes is all right. Seriousely, I think Anderson and Ali gave Jack more than enough opportunity to save himself. Now Welch should be pilloried for his rash and outrageous statement, no matter how wise a sage he used to be. He must be guided out of the public discourse before he embarrasses himself and his reputation any more. He is obviously losing the filter he used to possess.

    October 5, 2012 at 10:38 pm |
  4. Lee White

    I kind of like Mitt Romney but the thing that bothers me most is why is he getting killed in Massachusetts? If he were such a good administrator he'd be leading there, right? This is why I have my doubts about him, I guess I'll just stick with Obama thats the safe choice.

    October 5, 2012 at 8:57 pm |
  5. Anita

    I have a question: is this the first time this figure had been calculated this way? I don't think so, so then it appears that some people are just throwing these accusations around because they don't like the results this time. These same people liked the numbers because they were bad earlier; are you saying these same people never touted the same figure when it was bad? I seriously doubt it.

    October 5, 2012 at 8:29 pm |
  6. PG

    I keep hearing from folks like Jack Welch that reducing regulations will help the economy. That doesn't seem to match the reality. Right now the BRIC countries (Brazil, Russia, India, and China) are the world's powerhouse economies. Two of those, Brazil & China, have the strictest regulatory regimes when it comes to getting products on the market. In addition, in the EU Germany is the one with the most regulatory hurdles to get products on the market (although that is more driven by customer demand for the GS mark–which shows up on many product labels along with the CE & UL certificationsi). Additionaly, most folks know that Germany has one of the strongest economies in EU market. This evidence is contrary to the myth that reducing regulations will increase economic growth.

    October 5, 2012 at 8:21 pm |
  7. Randy Mason

    Unemployed rate at 7.8 What I would like to now is what is the total unemployed rate counting peaple nolonger able to collect unemployment and denied unemployment because of being terrminated for a specificet reason and peaple that were self employed and had no unemployment benefits and can't support themselfs because of the poor economy.

    October 5, 2012 at 8:21 pm |
  8. Griff.

    "But it is true! %47.7 will vote for Obama, and after the Debate Mitt Romny will get the rest."

    October 5, 2012 at 8:21 pm |
  9. deb habas

    Why is Jack Welch suddenly focusing on these numbers determining the outcome of an election when they bode well for the democrats? I heard no complaints all the times the unemployment numbers had a negative effect on the incumbants.

    October 5, 2012 at 8:20 pm |
  10. Nancy Larsen

    Regarding Jack Welch–no one can accuse him of creating jobs for Americans. It was downsize, downsize, downsize, until the spirit of General Electric workers was irreparably broken. He didn't understand that a corporation is its people.

    October 5, 2012 at 8:20 pm |
  11. N Wakefield

    Has he ever heard of agricultural farm workers seasonal?

    October 5, 2012 at 8:13 pm |
  12. George

    Anderson, what Mr Welch should have explained is that these "Chicago Guys" as well as ALL other politicians, will latch onto anything to get re-elected...even unbelievable job numbers! Even IF these numbers improved to this level, are we taking into consideration the people who have just given up? Thiink about it!

    October 5, 2012 at 8:13 pm |
  13. Griff.

    "The guy without a job for the past four years will not vote for Obama. The family that lost their home will not vote for Obama. Even those who are hurting, even if they have job, can't rreally vot for Obama. 23,000,000 would not vote for Obama today, so who knows what will happen after that debate???"

    October 5, 2012 at 8:07 pm |
  14. Bob Nesbit

    America does not need comments from people who do not know what they are talking about. What is this man's intent?
    He needs to talk with the hard working Federal Government workers at the BLS who put our Nations employment data together–these are honest hard working government servants. Better to not say anything than to look foolish.

    October 5, 2012 at 6:42 pm |
  15. Apostasyusa

    It's not fair!!!!!! We've worked so hard, so hard to be the best obstructionist that we could be. We've done everything. We tried to destroy Unions, destroy Medicare and Social Security, refused to raise taxes on the top 1%, refused to pass a jobs bill to help the economy, caused the country to lose its Triple "A" rating, brought the government to the brink of a shut-down, waged war on the US Postal Service, caused the FAA to shut-down briefly, attempted to suppress voter rights, opposed Don’t Ask Don’t Tell, waged war against a woman’s reproductive rights (Planned Parenthood), openly chastised the President of the United States, chastised the Occupy Wall Street Movement (99% ers), favored initiating a war with Iran while simultaneously apposing ending the wars in Iraqi and Afghanistan, not to mention deport immigrants, All this and what have we gotten for our hard work? An approval rating of 9%, improving popularity for that Socialist, Marxist form Kenya, Obama, and a Republican Presidential Candidate that is the Mormon, God Father of the Affordable Healthcare Act (Obama Care a.k.a Romney Care), and is most likely a tax cheating, draft dodger , who is as inept and flawed now as McCain and Palin were in 2008. Oh the humanity!!!!!!!

    Republicans gone wild!!!

    October 5, 2012 at 6:37 pm |