>> thank you, carl you know, ed lazear, my favorite economist.irman of president george w. bush's council of economic advisers ed, welcome. i'm going to get right into it i really need to define some of the counterintuitive variables inside this report markets seem to think it was a positive jobs were okay i think they're jobs light but let's start out with two areas. wages, unchanged month over month. that's the lowest level since october of 2017. and if we look at year over year at 2.9%, weakest since july of 2018 and of course the 50-year low in the unemployment rate. discuss those. >> okay. well, a few things first, let me just give you a couple more numbers then i'll come back to yours particularly the wage one you talked about. one of the good numbers that hasn't been talked about is the employment rate. that's now up to 61% many economists are thinking that's about the peak given demographics before the recession. it was at 63.5% because of -- >> so you're talking e-pop >> e-pop exactly. and most labor economists think that's probably the