Nathan Newman has an excellent post about the reality behind the “economic recovery.” First, he quotes from The Economist:
… for many Americans the economy does not seem so wonderful. The fruits of this recovery, thus far, have been more evident in firms’ profits than in workers’ wages. As a share of GDP, wages are at their lowest level in decades.
Then he provides us with this handy chart from the Economic Policy Institute, showing exactly what this means:
UPDATE: Another chart, with more info, here. (Scroll to the bottom.)