Approximately, that is. The 2011 level was actually a bit lower than the 2010 level.
In 2012 it's dropping a bit. Whether that is statistically significant and a longer term trend we'll have to see.
We troughed shortly after the end of the recession, then we rose for a while, and then we hit the Gate of Doom. For over a year and a half, the basic trend is flat to down.
Then I see the economists talking about how wages are too high, and I don't know how even to respond. For a huge number of American workers, wages are sitting at subsistence level.
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If we actually end up this year with real disposable per capita incomes at 2006 levels, can we expect the economy to grow much?
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