Productivity is rising by one percent a year. The fraction of people in the workforce has been increasing. Overall, you would have expected the family income in the United States to be rising slowly, a little bit more than one percent a year. But for the past 15 years, the income of the median family has hardly gone up at all. Even though more people are working.
Families are smaller.
So the typical worker in a family that has the same fraction of people working is actually earning less in real terms than in the late 1970s. A typical family is earning just a couple of percent more than it was in the late 1970s, because the wife is more likely to be working. The main point is that people are not better off. Most of the benefits of growth has gone to people in the top one percent. The rest has gone to people just a little bit below that.