BUSINESS

Jack Welch On CNBC: 'Thank God' I Questioned The Jobs Numbers (VIDEO)

11/05/2012 10:00 am ET | Updated Nov 05, 2012

Last month, former General Electric CEO Jack Welch ignited a controversy when he implied in a tweet that the Labor Department may be fixing the jobs numbers:

Now Welch is claiming that an unemployment uptick in the latest report has "confirmed [this] view."

"This month we had 171,000 jobs and we go up!" Welch said Monday morning on CNBC's Squawk Box. "So we had 70,000 more jobs and we go up. Why? Because this thing is filled with assumptions."

Despite widespread criticism of Welch's conspiracy theory, he's largely stood by the original tweet, admitting in a Wall Street Journal op-ed only that he should have used a question mark in the original tweet, since his intention was to raise "a question" about the number's legitimacy. "Thank God I did," Welch added during Monday's Squawk Box appearance.

GE's labor force fell by around 100,000 during Welsh's tenure as head of the corporation, according to Fortune.

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