During President Obama’s Presidential Election campaign trail in October of 2012 he boasted about a huge drop in the unemployment rate after the release of the September 2012 job’s numbers. While it made for a great talking point at the time a new report recently released claims that the administration cooked the books on the employment data just one month before the Presidential Election. According to the New York Post, the Census Bureau conducts surveys that are used to help the Department of Labor to determine the official unemployment rate. It reported that the Census Bureau faked results to help inflate the employment numbers. This information was acquired from several former workers at the Census Bureau who claimed to have been told by management to fabricate results of people if they could not get in touch with them. While this is just a report at the moment it certainly is serious enough to question the validity of the numbers and moreover the motive for doing so. In addition many economists and investors raised eyebrows when this first happened. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins The Blaze TV with Wilkow to discuss how important it is to trust unemployment data the administration is releasing and when they are shown or presumed to be false who or what can you trust.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.