jim glassman agree, how do they respond to this report?be slightly disappointed by the report, because we were expecting upper revisions and the job market is steady. the truth is, when you think about the economy, we have to think about all that we have on the economy, and when you put this together with the steady trend we have seen in jobless claims, which to me is the best measure of all of the things that we look at, and you look at measures, yeah, we are slower this year in terms of job growth, especially in terms of what has been going on in the oil industry. but if you look at the economy, there are reasons to be pretty constructive about what is going on here, and i think we will see job growth may be run a little slower than we are used to, but we are still growing faster than our underlying trend. was princeton economist alan krueger with senior economist jim glassman on "bloomberg surveillance" this morning with tom keene. still to come on "bloomberg market day," commercial drones. the government can't figure out how to regulat

jim glassman, what is different this time? within your research going up to -- 8:30, what is different? jim: trying to make sense of what happened in the third quarter. the little bit of evidence we have from the gdp is indicating the economy has slowed down quite a bit, but everything about the job market has been steady. for me, the most important focus is what is going on. hours worked appear to have accelerated. joblessmarket including claims, which i think are the most reliable and most comprehensive picture of the u.s. economy, they are telling us the u.s. economy is doing fine at worst, and maybe picking up a little bit in the third quarter. gdp, wethe problem with have learned by now we should be a little skeptical of the quarterly gdp estimates as the early reads are very volatile and based on limited information. revisions, and it is a complicated thing to try to figure out what is going on broadly. about theful thing job data, it is very comprehensive. you're getting a snapshot of what is going on across america. wit

later on, jim glassman will join us from jpmorgan. we need the single best chart.ane is coming. i'll be lucky if i get home tonight. we did accomplished single -- a complex single best chart. michael mckee, help me out with the u.s. two year yield. those blue circles are all those fed meetings. boy, have we given it up since the last fed meeting. the important point is the red arc down in the right side. that shows you those dovish moments of very lo interest rates. wwe are not there yet but we are getting very rapidly to very low interest rates. mike: we are, but what is interesting is that we are making higher lows. the market is beginning to believe that the fed will do something. they are just not sure maybe one it is. you look at the low on the two- year all the way to the left meeting. last fed they gave up because they did not raise rates, but it did not go as low as we saw in june. to talk over you, but i'm looking at that chart and thinking about the yield curve and treasuries. wondering about what that says about the domestic u.s. economy. there is a ques