heidi shierholz? heidi: we don't have the october inflation numbers out yet, but it is sort of neck and neck and inflation has been greater than nominal wage growth over this period. this has been an extraordinarily strange period in terms of giant wage growth for some unlikely workers like restaurant workers that have seen real wage stagnation for four decades, but also experiencing high inflation related to the things that we've been discussing so far. it will be interesting, these things move so much month-to-month. this is always a question of we don't want to make too much out of individual months of changes but when all is said and done, when we look back, i don't think we will say people solve real wage decline over this general period, but what we are seeing is wage growth for workers, not quite keeping up with inflation growth. and again, that is temporary. the kinds of inflation we are seeing right now, what michael said notwithstanding, it is very much connected to a covid recession like ex

heidi shierholz? heidi: we don't have the october inflation numbers out yet, but it is sort of neck and neck and inflation has been greater than nominal wage growth over this period. this has been an extraordinarily strange period in terms of giant wage growth for some unlikely workers like restaurant workers that have seen real wage stagnation for four decades, but also experiencing high inflation related to the things that we've been discussing so far. it will be interesting, these things move so much month-to-month. this is always a question of we don't want to make too much out of individual months of changes but when all is said and done, when we look back, i don't think we will say people solve real wage decline over this general period, but what we are seeing is wage growth for workers, not quite keeping up with inflation growth. and again, that is temporary. the kinds of inflation we are seeing right now, what michael said notwithstanding, it is very much connected to a covid recession like ex

heidi shierholz, the economic policy institute president. what we will be doing next, betting on software. the tech software sector etf. more on that story next. this is bloomberg. guy: from london, i am guy johnson. this is "bloomberg markets." investor preferences are starting to change with software becoming a much more attractive place. taylor: better than bonds. [laughter] guy: that is a fairly low bar. let's put it that way. dave wilson, etf friday. looking at this moves. dave: focusing on ishares. it has one of these ungainly names. the kicker -- ticker is easier to work with. it has $6.7 billion in assets. among the biggest holding sales of microsoft. beyond that, you have a lot of smaller companies. 120 stocks or so in this etf. you look at the numbers for october, a record and flow of $527 million. we had a report saying hedge funds are moving in that direction and you can understand it. this group has done relatively well with comparison to the s&p 500. latest earnings report have companies like cloud in cybersecurity, higher afte

joining us this morning is heidi shierholz, president of the economic policy institute, along with michael strahan, economic policy director -- number policy studies director at the american enterprise institute, here to talk about the state of our economy. i want to talk about the latest numbers put up by the bureau of labor statistics. 531,000 jobs were added in the month of october. the end of limit rate at 4.6%, the lowest since the pandemic began. the unemployment rate by race, for black americans is 7.9%. hispanics are seeing 5.9%. asians, 4.2%.