Detailed text transcripts for TV channel - MSNBC - 20121005:

Detailed text transcripts for TV channel - MSNBC - 20121005:15:07:00

the unemployment rate that you have been talking about from 8.1% down to 7.8%, that's the good kind of decline in unemployment because it came from a lot more people getting jobs. if you recall back last month, i was sitting in this chair telling you that the decline in unemployment from 8.3% to 8.1% was illusory. it tells you, as i said, more people came into the job market and got jobs. but it also tells you that the monthly surveys are volatile. however, i think there's other evidence in this report, perhaps we can get into it, that shows some momentum moving in the right direction. the pace of employment growth appears to be accelerating in the payroll survey as well. >> ron, i want to ask you about jack welch's tweet about the books basically being cooked. you know, he's a ge pioneer. we know him well around 30 rock. >> jack is an old boss, a very good friend, a mentor, a variety of other things. when you study the bureau of labor statistics, the unit of

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