The unemployment rate fell below 8 percent in September to 7.8 percent, providing a boost to President Obama in the wake of his widely panned debate performance and just a month before Election Day.

The economy added only 114,00 jobs, yet the unemployment rate dropped from 8.1 percent to 7.8. The report revised figures up in July and August, and it showed more people are now entering the workforce.

Welch is a prominent businessman and is not shy about sharing his political views. Earlier in the cycle he urged Romney to get tougher on the Obama campaign, saying presidential politics has “no room for amateurs.”