When the jobs report came out the first week of October 2012 reporting a drop from 8.1 to 7.8%, many people thought it was bogus, in fact Jack Welch believed the report was bogus and it launched a major war between the former GE CEO and Time Warner (Fortune, CNN, Money) who went out of their way to dispute Welch's claim and went after him personally. Fortune.com ran a story detailing Welch's record as a job destroyer.
Jack Welch was Right
Welch resigned from Time Warner and wrote an Op-Ed in the WSJ explaining his problem with the unemployment numbers and criticizing the sometimes vicious attacks he has received since his tweet.
According a just released story by the NY Post, Jack Welch was right, Time Warner was wrong, and the Obama administration lied.
According to the report that surprising .3% drop was based on manipulated numbers, and the Census Bureau, which does the unemployment survey, knew it.
"And a knowledgeable source says the deception went beyond that one employee — that it escalated at the time President Obama was seeking reelection in 2012 and continues today.
“He’s not the only one,” said the source, who asked to remain anonymous for now but is willing to talk with the Labor Department and Congress if asked..."