The economy's doing fine, except if you figure in working families, ... We're posting great numbers in aggregate demand, yet the lousiest on record for wage growth.

We are in the midst of a protracted wage slump, ... a troubling trend that is largely going unnoticed by policymakers.

This decline [in the jobless rate] is certainly the largest drop we've seen in recent months, so it does suggest a stronger labor market than we expected.

The problem isn't simply that families are facing higher prices, particularly at the pump. It's also that they're facing lower wages. If wages were keeping pace with inflation, the pinch wouldn't be as hard.

The job market is slowly tightening. We are wringing out the slack. But we're only six months into a process that could take a year and a half.

This report may give pause to some of the optimists looking for a stronger second half, ... We need a real boost if we're going to reverse some of these trends that are even more negative than we thought they were.