kobe smith with the financial times for the an appointment rate as of november, while still very low,tance of the level that generated a lot of concern about the labor market over the summer and in the lead up to the 50 basis point cut in september. hiring has narrowed to a handful of sectors. now the committee appears comfortable skipping cuts at upcoming meetings. what has changed about the committee's assessment of the risks confronting the labor market? is there just less concerned now on that front or is it just about there being more risk to inflation that needs to be accounted for? >> the unemployment rate is now the same as it was in july at 4.2%. it has moved up and down but it is the same as july. and job creation is lower then it has been but it has been steady. it is not declining. it is steady at a level which as i pointed out, is below the level that would hold the unemployment rate. constant but not so far below. so you might, if we have the breakeven level right and of jobs continue and job creation continues at the level than the establishment survey, you would get a