The unambiguously positive jobs report, which showed 114,000 new jobs created in September and the unemployment rate dropping to 7.8 percent from last month’s 8.1 percent, caused some predictable reactions. Elation on the left, sober assessment from the center. And conspiracies from the right. Jack Welch, Congressman Allen West, Joe Scarborough, a collection of Fox News hosts, and a motley crew on Twitter all seemed to conclude there was something fishy about the report: the fix is in.
Jack Welch, the former General Electric CEO, was perhaps first out the gate, even speculating about a possible conspiracy theory last night, when he tweeted “Tomorrow employment numbers for Sept. with all the assumptions Labor Dept. can make..wonder about participation assumption??” And when the news came in, it was certain: “Unbelievable jobs numbers..these Chicago guys will do anything.. can’t debate so change numbers.” That’s pretty rich, considering Welch’s GE was known for producing quarterly earnings results that were just right.
Is there any reason to believe Welch and his fellow brave truth tellers? No.
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