Jack Welch Ignites Firestorm on Jobs Data

The September jobs report ignited a firestorm when Jack Welch, former General Electric chief executive officer and Reuters contributor, asserted (or implied, or wondered if) the unemployment rate had been politically doctored to give President Barack Obama an electoral advantage. After all, how can the unemployment rate drop a full 0.3 percentage points to 7.8 percent when the economy is creating only 114,000 jobs?