Who’d have thought that this news would send the right over the cliff?
The U.S. unemployment rate unexpectedly dropped to 7.8 percent in September and reached its lowest level since President Barack Obama took office, providing a boost to his re-election bid.
The Labor Department said on Friday that employers added 114,000 workers to their payrolls last month, a moderate number, but it said a combined 86,000 more jobs were created in the prior two months than it had previously thought.
Other aspects of the report also were strong. In particular, a separate survey of households found a big surge in hiring. That pushed the jobless rate down by 0.3 percentage point to its lowest level since January 2009.
I’d like to say this was senility, but one-percenter Jack Welch simply put on his tin foil hat on and modeled it on Twitter.
But he later had to admit to Chris Matthews on Hardball that he had no facts in evidence…
“Maybe they weren’t right at 8.5 [percent], maybe they weren’t right at 8.4,” Welch said. “But it seems coincidental that, one month before the election, they would end up at 7.8. The president today is on the stump. The president, all he’s talked about is 7.8. He didn’t mention 600,000 jobs added in the government sector.”
…Matthews pointed out that Keith Hall, who served as BLS commissioner during George W. Bush’s administration, told The Wall Street Journal that kind of interference was impossible.
“There’s nothing wrong with the numbers,” said Mr. Hall. “The only issue is the interpretation of the numbers. The numbers are what they are.”
Here’s the video…