American workers have faced serious difficulties in the labor market since the first oil shock in 1973. Since that time, the pace of productivity advance has slowed for reasons which are still not understood, lowering the rate at which living standards have advanced.
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Other Quotes by "Janet Yellen"

Yankee Stadium is a natural venue for another lesson: You won't succeed all the time. Even Ruth, Gehrig, and DiMaggio failed most of time when they stepped to the plate. Finding the right path in life, more often than not, involves some missteps.
Tags: path, time, you, life
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
Tags: bank, inflation, react, only
Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.
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I continue to think many of the factors holding down inflation are transitory... We want to be careful not to jump to a premature conclusion about what's in store for the U.S. economy.
Tags: want, jump, down, think
The trust institutions have in the marketplace, the confidence customers and suppliers and workers and employees have, are very important to a business's effectiveness.
Tags: important, trust, business, confidence
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