On Fox News, Jack Welch expounded on his accusation, via Twitter, that the Obama Administration cooked the books to bring the unemployment rate down. “Unbelievable jobs numbers,” Welch wrote, “these Chicago guys will do anything…can’t debate so change numbers.”   

In the clip below, Welch explains that the unemployment number is the product “a whole mess of assumptions” – for example, this month’s emphasis on the household employment survey as opposed to the establishment employment survey – and that it’s important to look at how the number is calculated.  Welch concludes that “these numbers don’t smell right when you think about where the economy is right now.”