Despite a jam-packed day with no time to comment to reporters, Jack Welch interrupted his schedule this afternoon to tell the Journal he “wasn’t kidding” about his Tweet this morning that the most recent jobs data had been gotten to. Again, because he is so busy, Welch did not have time to elaborate, but he wanted to make sure that was clear. He jokes a lot so he wasn’t sure if it was. [WSJ, earlier]

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Comments (37)

  1. Posted by welchwood | October 5, 2012 at 4:21 PM

    @EmptyChair jobs numbers is cooked I tell you!

  2. Posted by get real here | October 5, 2012 at 4:21 PM

    Cut the crap, 873,000 household jobs in one month, just in time to save obama?

  3. Posted by guest | October 5, 2012 at 4:22 PM

    I see Jack also has time to comment on Dealbreaker.

  4. Posted by Deus ex machina | October 5, 2012 at 4:22 PM

    ^^^^^haven't you ever heard of me? ^^^^^

  5. Posted by realist | October 5, 2012 at 4:24 PM

    christmas season begins earlier each year, which would probably mean christmas hiring begins earlier, which would explain 500k+ part time jobs being created

  6. Posted by guest | October 5, 2012 at 4:27 PM

    Bah, humbug.

    – J. Welch

  7. Posted by Texashedge | October 5, 2012 at 4:35 PM

    Let's not pretend it isn't a really big and well-timed outlier. 500,000 of them are classified as "part time" as well…those are pretty easy to fudge.

    I'm not saying there's motive, but there is certainly means and opportunity.

  8. Posted by Former GE Director | October 5, 2012 at 4:43 PM

    Well, Bess Levin's inbox is a god damn national treasure, so it's a pretty valid use of a guy like Jack's time.

  9. Posted by PermaGuestII | October 5, 2012 at 4:46 PM

    Would they even need to be fudged? How many of those part-time are government as opposed to private-sector jobs? Hire a few thousand people to spend 5hrs/week on "voter education" or sweeping the steps of the Pentagon, and presto…

  10. Posted by guest | October 5, 2012 at 4:47 PM

    "I'm not saying they cooked the numbers, I'm just saying exactly that."

  11. Posted by guest | October 5, 2012 at 4:48 PM

    Does living in Fox News land, where everything can be spun to make things the way you want them to be, ever get exhausting?

  12. Posted by PermaGuestII | October 5, 2012 at 4:49 PM

    Which would make sense if it were showing in the September retail sales figures– but it isn't.

  13. Posted by Texashedge | October 5, 2012 at 4:59 PM

    I usually get my news straight from Dennis Kneale and Dick Bove.

  14. Posted by Guest | October 5, 2012 at 5:08 PM

    Seems like if you were going to manipulate the numbers, you'd start earlier, and make them better.

  15. Posted by PermaGuestII | October 5, 2012 at 5:24 PM

    Maybe they put Biden in charge of it.

  16. Posted by Guest | October 5, 2012 at 5:28 PM

    As opposed to the honesty in government that's a hallmark of politicians from Illinois, and Chicago politicians in particular? We're talking about a state where the 2 prior governors – one Democrat and one Republican, as the crookery is bipartisan in Illinois – are both in federal prison after being convicted of political corruption. (Two of the five governors prior to them were also convicted.) In Chicago, 31 aldermen have been convicted of corruption over the past 40 years, which equals about 30% of those who served during the period.

    President Obama and most of his campaign advisers came out of this political milleu, and I think they'd cook the job numbers without hesitating if they thought they could get away with it. My best guess – and fervent hope – is that the career BLS people kept that from happening, but it's a legitimate concern.

  17. Posted by displace worker | October 5, 2012 at 6:25 PM

    Jack should know the real job numbers seeing as how destroyed so many American Jobs during his time running GE

  18. Posted by Louis Feinberg | October 5, 2012 at 6:42 PM

    Jack Welch is full of crap.

  19. Posted by iluvbiasedpolitics | October 5, 2012 at 7:12 PM

    Jack should know about cooking books – that's what he did when he ran GE. The proverbial hit the fan after he bailed.

  20. Posted by guest | October 5, 2012 at 7:20 PM

    Sir, can you grind your ax someplace else? Thx.

  21. Posted by guest | October 5, 2012 at 10:02 PM

    You're a legitimate dumb ass.

  22. Posted by guest | October 5, 2012 at 10:02 PM


  23. Posted by seo tutorial | October 5, 2012 at 11:46 PM

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    seo tutorial

  24. Posted by Guest | October 6, 2012 at 1:41 AM

    I'll have more faith in the BLS than to believe the books were fudged, but if anybody believed these numbers presented an accurate picture, the market wouldn't have been flat on the day it was announced 1.) the unemployment rate dipped to 7.8% and 2.) more jobs were created than in any given month going back to 1983.

  25. Posted by Inquiring Mind | October 6, 2012 at 9:22 AM

    What happens to a proverbial when it hits the fan?

  26. Posted by guest | October 6, 2012 at 12:47 PM

    Or work for RBS.

  27. Posted by Bbrockhead | October 6, 2012 at 11:22 PM

    Numbers reflect POTUS and FLOTUS personal staff hirings

  28. Posted by 10xLevered | October 7, 2012 at 11:42 AM

  29. Posted by guest | October 7, 2012 at 8:05 PM

    -"in" i agree

  30. Posted by Van Helsing, CFA | October 8, 2012 at 8:23 AM

    Time has shown that when retired CEO's keep popping up out of their box, there's only really one way to deal with the problem. Where's my hammer and stake?

  31. Posted by Chris Snotty | October 8, 2012 at 9:08 AM

    As I've been saying for years all these so-called titans of finance are totally full of shit. Jack Welch, Warren Buffet, Donald Trump? All ass-clowns, always were, always will be.

  32. Posted by DB Owner's Manual | October 8, 2012 at 10:04 AM

    As a courtesy, see if a commenter has already covered your topic.

  33. Posted by Confucius | October 8, 2012 at 12:05 PM

    Man who look like cadaver and who not been fudged enough by second wife, must cut hole in stomach to see here he going with head up his ass.

    Won Fu All

  34. Posted by Guest | October 8, 2012 at 1:19 PM

    It becomes a proverb about proofreading?

  35. Posted by Turbolove | October 8, 2012 at 1:54 PM

    I believe it, last year there was a spike in September as well. Maybe these "seasonally adjusted" numbers aren't adjusted correctly….

  36. Posted by Marriage | October 8, 2012 at 2:35 PM

    It is not that I want to duplicate your site, but I actually like the style. Could you tell me which design are you using? Or was it custom produced?

  37. Posted by Invité or Visiteur? | October 9, 2012 at 11:25 AM

    For future reference, it's "milieu."

    Also for future reference, what you're saying is self evident.