jim tankersley covers this for the "new york times" and joins me now.under 4% unemployment is a s pretiking milestone, isn't it? ue it's great. there's noion about it. it's a great number. you want the economy to run as hot as it canthout too much inflation and we're there right now. maybe we even have more room to run hot, and this is a thing we have not seen since the very beginning of this century. >> brangham: wages, thoughah, remained a bit sluggish and my basic understanding of onomics is when unemployment is low and the economy is roaring, there is more scompetition for the say number of workers, wages should go up. why are there not? >> one theory is there's actually still not as much competition as you might imagine based on the unemployment number because there are about 2 million people who be working but are not looking for jobs right n and that lack of them in the labor force is keeping wages down.ss another le explanation is that workers right now have for so long not had bargaining power with comnies, they've not had the ability to demand