Consumer income is in a vice: not only are jobs and hours shrinking, but hourly pay grew at only an annualised rate of 0.7% during the past three months, the lowest since the data begin in 1964.

• 消费收入依旧走低：不仅就业岗位和工作时间缩紧，过去三个月内的小时工资的年增长率也只有0.；7%25，是1964年以来的最低点。