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Strange Jobs Report
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I Was Right About That
Strange Jobs Report

Wall Street Journal, by Jack Welch

Original Article

Posted By:Dreadnought, 10/9/2012 11:32:57 PM

Imagine a country where challenging the ruling authorities—questioning, say, a piece of data released by central headquarters—would result in mobs of administration sympathizers claiming you should feel "embarrassed" and labeling you a fool, or worse. Soviet Russia perhaps? Communist China? Nope, that would be the United States right now, when a person (like me, for instance) suggests that a certain government datum (like the September unemployment rate of 7.8%) doesn't make sense. Unfortunately for those who would like me to pipe down, the 7.8% unemployment figure released by the

      


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Reply 1 - Posted by: Robinsolana, 10/9/2012 11:54:58 PM     (No. 8921961)

Jack Welch takes you through his thinking on Obama's strange unemployment number.

One take away is that there are 3 million less workers working or looking since Obama took office. This tends to artificially tweak the unemployment number. These people no longer count.
Also the number of people on disability has been leaping upward. Sometimes the increase is more than the increase in employment.
That can twist the unemployment number.
Another thing to notice is that this a poll.
They call people.
I have gotten wary of polls for some reason.
And lastly Jack Welch says that there is no sign of sudden economic activity to produce a .3% drop in unemployment.

The kindest thing that can be said is that this was a statistical fluke.


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Reply 2 - Posted by: devnull, 10/9/2012 11:56:05 PM     (No. 8921963)

Just take the 'L' out and be done with it.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Photoonist, 10/10/2012 12:28:42 AM     (No. 8921997)

We knew it was phony as soon as they announced a new jobs figure of less than 200,000. Below that number you can't have a genuine decrease in the unemployment percentage.

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Reply 4 - Posted by: Veritas2009, 10/10/2012 12:31:46 AM     (No. 8921998)

Seems to me more definative numbers could be obtained by summing the SS TAX$ REPORTED to the IRS and dividing by the number of unique SSN numbers it is being credited to.

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Reply 5 - Posted by: Davids918, 10/10/2012 1:03:29 AM     (No. 8922028)

Knowing how many will lose their unemployment benefits, and then tweaking the household survey by an amount that is the largest number in 29 years in this economy is VERY suspect to say the least.


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Reply 6 - Posted by: Clark Kent, 10/10/2012 1:05:33 AM     (No. 8922033)

interesting that Austan Goolsbee, who defended these numbers, accused the Bush administration of cooking the the same numbers back in 2003.

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Reply 7 - Posted by: dman, 10/10/2012 1:28:47 AM     (No. 8922050)

You're not alone, Mr. Welch.

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Reply 8 - Posted by: NMPatriot, 10/10/2012 1:47:59 AM     (No. 8922061)

The DNC propaganda machine assumes everyone is as stupid as they are! It would be laughable it it weren't so dangerous.

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Reply 9 - Posted by: rexhandsom, 10/10/2012 6:52:33 AM     (No. 8922213)

Close to a year ago RUSH LIMBAUGH predicted this..........

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Reply 10 - Posted by: pineledger, 10/10/2012 7:19:56 AM     (No. 8922264)

If anything, they managed to get to this number on the backs of part-time workers -- people forced to take low-paying jobs with no benefits just to have something.

FOX last night was quite clear on this: employers are not going to hire full-time people with benefits in this climate, where you don't know what the government is going to hit you with next...a mandate, a tax, an OSHA requirement, etc.

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Reply 11 - Posted by: HisHandmaiden, 10/10/2012 7:21:50 AM     (No. 8922268)

"A relentless Jack Welch gives the pot of cooked
numbers another dash of Tabasco."

Brilliant, Miss Lucianne and Team! Well done!

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Reply 12 - Posted by: Judith, 10/10/2012 7:28:24 AM     (No. 8922289)

Now, now Jack, Gov. Romney has told everyone that those figures are 100% accurate and to stop this nonsense.

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B-G1


 
Reply 13 - Posted by: msctex1, 10/10/2012 7:52:07 AM     (No. 8922337)

Outright lies are all they have left. Imagine what it is going to be like if the second debate mirrors the first, if not worse for BHO.

On the other hand, Foreign Policy is his strong suit.

s///

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Reply 14 - Posted by: Mermaid1, 10/10/2012 7:52:37 AM     (No. 8922340)

It's about time someone opened a can of whoop@ss on these liars.

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Reply 15 - Posted by: Freeloader, 10/10/2012 7:54:30 AM     (No. 8922347)

Mr. Welch has performed a great public service by exposing this latest gibberish from the Obama Administration. In the words of William W. Watt, "Do not put your faith in what statistics say until you have carefully considered what they do not say."

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Reply 16 - Posted by: LZK, 10/10/2012 8:39:25 AM     (No. 8922441)

Thank you Mr. Welch for validating most of US here on Lucianne...

WE knew obama would scramble the jobs' report.

WE don't believe anything this administration says. When their mouths move -- they are lying.

LZK

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Reply 17 - Posted by: Maybeth, 10/10/2012 8:47:24 AM     (No. 8922462)

Jack Welch is not running for any office, does not have to kiss DNC or GOP butts and is, therefore, free to state the facts. That freedom of speech hasn't been ripped away from us yet, but it is definitely on Obama's Marxist Menu.
.... I even heard some scolding from the GOP regarding Jack's article, but those reprimands come from the usual 'turn the other cheek' crowd.

Why would ANYbody believe the 7.8% story from the same president who reported that because some unknown person created some unknown video which 'hurt the feelings' of Muslims, our U.S. Lybian embassy was attacked and the ambassador murdered .... along with 3 other Americans?

Not only is the I-Won emperor naked, but he has called wolf one too many times.

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R_DBL_B
  


 
Reply 18 - Posted by: BetseyRoss, 10/10/2012 9:11:48 AM     (No. 8922526)

Jack Welch's final reason for the Big Lie is absolutely right on. There isn't enough economic activity to support a .3 drop. No growth. Not even a glimmer of growth. Not a long glimmer of growth. It's going to take Romeny some time to get that unemployment number down. It will start as soon as Nov. 7, but until Obamacare is repealed no one is going to be satisfied. That albatross is a job killer.

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Reply 19 - Posted by: planetgeo, 10/10/2012 9:35:51 AM     (No. 8922593)

This isn't some schlub saying this. Jack Welch was one of America's most competent CEOs. He knows numbers, and he knows when they don't smell right. These numbers stink.

And for me the real scandal here isn't just that this corrupt regime tried to cook the books, since many of us predicted this would happen. No, it's that the Bureau of Labor Statistics uses a friggin SURVEY (!!!) to confirm the state of the world's largest economy. Jeez, they might as well use darts or a Oujah Board or Magic 8-Ball. Even if the survey questions and questioners were legit, this method seems absurdly inexact. How about using, you know, actual company-filed personnel action reports?

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Reply 20 - Posted by: joeyinempirestate, 10/10/2012 9:53:25 AM     (No. 8922640)

Ever since Mitt kept hammering away at 8%+, they had to find a way to get to 7. The problem is, .3 of a percentage point is feeble growth.

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Reply 21 - Posted by: kwddave, 10/10/2012 9:56:24 AM     (No. 8922656)

So is Chris Matthews gonna invite him back to re-discuss this subject?

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Reply 22 - Posted by: Me?Opinionated?Nah!, 10/10/2012 10:10:05 AM     (No. 8922700)

I’ve been observing Jack Welch from afar for many years. He’s one tough, smart cookie. He doesn’t mince words, suffer fools gladly, tell it like it isn’t or enter, much less win, any Mr. Congeniality contests. Compare his pragmatic words with the bilge water that oozes constantly from Obama and his power-at-ANY-cost cohorts; Axelrod, Gibbs, Jarrett et al. Need I say more? Nope!

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Reply 23 - Posted by: joew9, 10/10/2012 10:11:32 AM     (No. 8922705)

#6 Yes the Dems accused the same thing about Republicans. But you see here's how it works. The Dems make an accusation that they know is just a political lie. They keep saying it over and over. Over time many of the Democrats forget that it was a just a lie in the first place. Then the Democrats start to justify their own behavior against the way they believe the Republicans are and not take into account that their perceived characterization of Republicans was a made up lie. Now the Dems cheat at something and say to themselves that well it's cheating but not as bad as the Republicans cheat. But they have compared their action against a lie they created. And the end result is their cheating is much worse than anything the Republicans ever even thought of doing.

Example: Nixon thought of using the IRS to investigate some political opponents in a private rant one day. His subordinates knew it was just a rant. They didn't do it. A few days later he told them it was correct not to do it. But the Dems characterize the action as if he actually followed through on that notion. So the Dems regularly use the IRS to investigate their opponents and justify it in their mind that at least it is not as bad as Nixon.

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Reply 24 - Posted by: globalwarmer, 10/10/2012 10:25:10 AM     (No. 8922750)

Some of the ComicRat comments following the article in the WSJ are breathtaking in their twisted view of reality. Liberalism really is a mental disorder.

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Reply 25 - Posted by: BeatleJeff, 10/10/2012 10:27:57 AM     (No. 8922764)

Notice how the very people who marched around chanting "challenge autority" no longer approve of challenging authority now that they're the authority being challenged.

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Reply 26 - Posted by: Pepper Tree, 10/10/2012 10:41:52 AM     (No. 8922806)

When this bogus jobs report floated by the administration's bureaucratic puppets made it to FOX News, I watched Mrs. Tree's reaction. At first her brow furrowed and eyes narrowed... then she started laughing.

It occurred right then that Axelrod had made another of his stupid mistakes. Cheating comes so naturally to him he seems to start doing it before the game begins. And if Mrs. Tree is laughing at his clumsy manipulation, so are a million other women.

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Reply 27 - Posted by: Layne's Soapbox, 10/10/2012 10:44:00 AM     (No. 8922815)

#21: because that makes too much sense. If it makes sense the government does the opposite.

This explains how they are able to make the numbers say what they want. I actually thought it was a little more, I don't know, statistical, than a poll. Shows what I know.

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Reply 28 - Posted by: distorted, 10/10/2012 10:44:05 AM     (No. 8922816)

Of the low level government clerks charged with checking a box on their forms after an interview, what percentage do you think are avid Obama supporters? 90%...95%? Do you think they know and/or have been informed that decreasing unemployment numbers at this critical stage of the election process accrue to zer'O's benefit? What checks are in place to guard against such jiggling of the numbers in a collusive workforce "adjustment?"

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Reply 29 - Posted by: weejun, 10/10/2012 10:58:12 AM     (No. 8922845)

This job report and the Libyan run-around are exactly what you get when a bunch of socialists are put in power. I hope and pray we clean house (along with the aiding and abetting education system and the lamestream media) before it's too late.

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Reply 30 - Posted by: RancherJack, 10/10/2012 11:23:36 AM     (No. 8922911)

How quickly we forget what a Turncoat Welch proved himself to be during the GW years.

The numbers were cooked, yes.

Jack Welch is no American.

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Reply 31 - Posted by: GLS2, 10/10/2012 11:27:50 AM     (No. 8922933)

#9 The October jobs report of 3.2% will be released on Nov. 3 just in time for elections.

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Reply 32 - Posted by: NotaBene, 10/10/2012 11:37:15 AM     (No. 8922976)

Obama corrupted the Federal Government for campaign purposes.

If you want statistics look at the boarded up storefronts near you and today's price of gasoline.

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Reply 33 - Posted by: Speedypetey, 10/10/2012 11:41:06 AM     (No. 8922991)

What is really scary is when the next President is decided in November by December the "adjusted" unemployment rate will skyrocket to 11%+ and the new "adjusted" Cost of Living Index will also be double digits. Rick Santelli will blow another gasket because at the same time the stock market will be heading south.

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Reply 34 - Posted by: Franz, 10/10/2012 11:56:28 AM     (No. 8923048)

Just think how many working age people had to leave the work force (reduce the Participation Rate) to produce this drop in the Unemployment Rate. The last time we saw this great a reduction in a work force in so short a time is when the "Black Death" was ravaging Europe during the Middle Ages.

This BLS Unemployment Rate only proves Mark Twain's observation that, "there are lies, damn lies, and statistics."

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Reply 35 - Posted by: ilovedogs, 10/10/2012 12:07:16 PM     (No. 8923076)

It all sounded bogus to me since I'm STILL looking for work myself.

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Reply 36 - Posted by: HDGalley, 10/10/2012 2:29:46 PM     (No. 8923453)

Has any one noticed that the Bureau of Labor Statistics is run by an appointed Obama political hack from California who just happens to be a socialist and a good party member... how could she "cook" the books and why? /s


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Reply 37 - Posted by: leopardtwo, 10/10/2012 4:49:50 PM     (No. 8923820)

Let's take the B.S. out of the BLS!

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Reply 38 - Posted by: Dodge Boy, 10/10/2012 7:58:58 PM     (No. 8924228)

I thought only Romney got inside Obie's head., Looks like Welch did, too. Atta boy, Jack.

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Reply 39 - Posted by: Charactercounts, 10/10/2012 10:48:14 PM     (No. 8924500)

I'm glad he didn't back down. The report isn't strange, it's bogus. Someone who collects cans and bottles from the roadside for a couple of hours would be counted as employed.

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