Friday, January 21, 2011

Jeff Immelt The Job Creator

President Obama has come to Upstate NY on this icy,snowy Friday to tout his focus on job growth. As part of this effort he appointed Jeff Immelt, GE CEO to be his chief outside economic advisor. This is somehow supposed to illustrate the Administration's job creation focus.

There's only one problem: Jeff Immelt hasn't created jobs, he has actuaaly been a job destroyer.

GE finished 2009 with 18,000 fewer US workers than it had at the end of 2008, and US headcount is down 31,000 since Immelt’s first full year in 2002. During his tenure, GE workers based in the US as a percentage of total employees has fallen to 44% from 52%.

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