Wednesday, October 10, 2012

Welch and the Unemployment Numbers

Jack Welch finds the September Unemployment Rate of 7.8% “implausible.”

I happen to agree with him.

All statistics, and the Unemployment Rate is a statistic, have a margin of error. Usually they’re pretty close but sometimes they can be off by quite a bit and I suspect that this is one of those times.

If Welch had simply said that, no big deal. The problem is he went further and implied that the numbers had been manipulated for political purposes.

Unless he has some evidence other than “funny it should happen just before the election” then that’s just irresponsible nonsense.

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