data. people do not really realize it. i do not want to blame bls. it underestimates the value of defined benefit pensions that teachers receives because there is essentially a difference of counting between the public and private sectors. these are arcane things, but you take the same person and run their earnings through a typical teacher pension and then run their earnings through a typical 401(k), for a full career worker, the difference in benefits at retirement is huge. it could be four times higher. if you do not know how the accounting words, getting out of these benefit numbers is hard to do. most full-time employee workers qualify for full-time help kurds. if you retire at 50, you cannot require rigid qualify for medicare and to your 65. bls does not cover anything about retiree benefit coverage. and if you look at their data on paid time off, the claims that teachers have less paid time off than other public employees, and other than -- how can that be? we know that they do get the summers off. deep in the footnotes of the data, you find t

the bls data does not cover anything on retiree health coverage for it if you look at the bls data ond time off, it plans teachers have last paid time off and other public employees and less time off than private-sector workers. how can that be because we know i get the summers off? in the footnotes of the bls footnotes, they base this on a 158-day work year. that means that the data on paid time off for teachers only accounts paid time off during the school year. it does not count time off during holidays, during the summer vacations. you have to include all those things. when you do, the benefit package for teachers is twice as generous as what a private- sector worker working for a larger employer would receive. that trumps everything else host: you mentioned a couple of times public-sector workers. why did you focus on teachers as opposed to other public sector workers like police, fire, and sanitation? guest: have done work on other public employees. we looked at federal workers and public sector employees in general in several states. what drew his to teachers is that there are

the study you are referring to actually is based on bls data. we have something called mass layoff statistics program and what we do there is any time there are 50 unemployment, initial unemployment claims over a five-week period we call that a establishment and verified they laid off 15 more workers in a month and we call that and we can ride -- defined that as a mass layoff. we send them a questionnaire and ask why. the data you are quoting is from this program, and so for these mass layoffs, we had about 18 mass layoff in 2010. some of them sided government regulation as the reason. so, while that is true in this does give you inside, one thing to sort of keep in mind is smaller events would not be captured there and there would be no effective regulation on job growth or bringing back job growth or something like that but this does give you some information. it is just sort of limited. other than that i don't think we have a lot that informs you about regulation, regulations impact on employment. >> mr. burgess. please. >> thank you. commiss

ibm data showing that sales jumped 24% online on black friday. even though it's hard to difficuerentiate because the blres open earlier and and stay open later. another record setting day for black friday. what i'm hearing here at ibm is a lot of the targeted marketing ads are paying off for the retailers. they're sending you information about things that are of interest to you to buy and it is paying off. that's what folks are buying. when they find out something like that that they want to buy. mobile traffic is tripling, folks on smart phones are using them to shop three times as much as they did last year. overall, mobile traffic is up 14%, sales up 9.5%. the iphone leading the way. the android not far behind, up 4.5%. and that is something that we haven't seen in quite a while. thomas, i've got to tell you, one thing that i'm surprised about that we're hearing today at ibm, apparel is the single, strongest category when talking about increases in online sales, up 25%. that real taly surprises me. i'm one of the folks that would sort of touch it, feel it try it on as opposed to order online. >> a p