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Old 10-06-2012, 08:36 PM
Bonnie Bonnie is offline
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Default Jobs Numbers

I don't think Jack Welch believes the books were really cooked to get this 7.8% jobs number, but he, along with a lot of other business/economics people agree that this number doesn't jibe with what's going on with the economy.

Here's a blog article I found which explains where/how they get the jobs numbers; it includes Jack Welch's much talked about tweet that Obama's media has made "the story" instead of "does this number really reflect the truth of what's going on?", also tweets from Jim Pethodoukis/RDQ Economics:

http://hotair.com/archives/2012/10/0...is-job-report/

Quote:
Scarborough: Something’s awfully odd about this job report

posted at 10:41 am on October 5, 2012 by Ed Morrissey

Yes, there is — but it may not be what people think it is, however. Joe Scarborough and Willie Geist both express skepticism over the “major tickdown to 7.8 percent” in the unemployment rate from the addition of only 114,000 jobs — which isn’t enough to keep up with population growth. What happened? Instead of focusing on that point, Mark Halperin instead point