The median U.S. household income hasn't changed very much over the last 35 years. There has been more growth in the last 8 years, but based on historical trends it's most likely on its way down.
Median household income by year (5 year increments):
1985: $54,334
1990: $57,677 (1.2% CAGR – 5 years)
1995: $57,655 (-0.008% CAGR – 5 years)
2000: $63,292 (1.9% CAGR – 5 years)
2005: $61,553 (-0.6% CAGR – 5 years)
2010: $58,627 (-1% CAGR – 5 years)
2015: $61,748 (1% CAGR – 5 years)
2020: $67,521 (1.8% CAGR – 5 years)
Over those 35 years, that's a 0.6% CAGR. Not surprisingly, failing to keep up with inflation.
We've been force fed a lie that ~$50K a year job is good for nearly 4 decades, if not longer. All the while companies filter more and more money to the top making the rich richer and further expanding the wealth gap (i.e., keeping labor costs low, or constant, over the decades while raising prices to consumers and pocketing higher margins). What's worse is that companies use periods of high inflation (what's happening now) as means to increase prices to consumers, but not on a 1:1 relationship to their increased costs (e.g., if cost increase 2% companies increase prices 5%). Companies use inflation as a tool to increase their profit margins.