Jack Welch Quits, Raising Jobless Numbers

Jack Welch Quits, Raising Jobless Numbers

Jack Welch is sticking to his conspiracy theory, no matter how much it’s debunked and ridiculed . The Bureau of Labor Statistics, he says, that bunch of technocrats long trusted by Wall Street, an outfit without political appointees, cooked the books and fiddled the September employment figures to give President Obama’s re-election campaign a mild boost. They must be lousy cooks, though, since the drop in joblessness was a measly fraction of one percent. Mr. Welch was much better at this kind of thing when he “managed earnings” as CEO of GE.

Jack Welch is doing everything in his power to raise October’s unemployment numbers. He’s started by quitting his own job writing opinion columns for Fortune magazine. And when it comes to manufacturing unemployment, no one does it better. “GE lost nearly 100,000 jobs while Welch was at the helm of the company,” observes Stephen Gandel, “a tenure that spanned two of the most robust periods of economic growth in American business history.”

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