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Detailed text transcripts for TV channel - MSNBC - 20100702:13:33:00

125 thousand then jobs overall. the numbers are adding to worries that people are giving up on finding jobs. with us is our economics reporter steve leesman. let s unpack this. it s a tad confusing. on the one hand we see a rate that is the lowest we have seen in months. at the same time more jobs were cut. how do we make sense of this? there is a lot of unpacking to do. let s start with the unemployment rate. it fell for the wrong reasons. people left the workforce about 650,000 people left and that causes the rate to decline. that is not a good sign. i hate to tell you that. take the thing you thought you could follow, mot this time. 9.5% is not a good sign because of how we arrived there. better numbers inside that. the minus 125 includes a minus 230,000 decline in the census workers. that s off. now you are feeling better? not so quickly.

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