i'd like to welcome my special guest, former fed governor from 2001-2006, mark olson.wednesday morning, governor. >> happy to be here. >> all right. now it is a fed day, second day, so we're going get the statement, no press conference. i would like to discuss not the intricacies of meeting and statement in particular but the overall macro viewpoint and no better place to start, you know one of the important issues of course is employment. and what i want to talk about are how skilled versus unskilled with regard to the workforce. you know you need leverage up to put the right pressure on wages, considering the large domestic and global pool of workers available. your thoughts? >> well that's true. and i think if you look at the numbers, if you subdivide the categories of unemployed by education, and that's precisely your point, college graduates and higher it's under 3%. and so you've got two factors going, the demographic factor of aging population and then the transitional factor of people having to move from jobs no longer relevant to jobs that are. and those combi