not fill. far exceeding the historical average of 22%. that is a major problem, when you talk about a tight labor market. mohamed: it is. it speaks to doug s point about how puzzling the growth was. if you take into account the technical adjustments for seasonal adjustments, then i think job creation was pretty good. importantly, unemployment came down to 4.2%. the participation rate went up. that is quite exactly what the situation is. we ve got a wet hot labor market. i completely agree with doug, that we have to be asking the federal reserve, what are you doing for running emergency monitoring policies, when we have a red-hot labor market, red-hot housing market and we have inflation going up. wave inflation at 6% already, and this really is a question