Great Question

This is an easy question to answer from my perspective. For me (age 62) and most of my peers, their kids and their peers, we are NO better off than we were a quarter century ago! A large part is the change from Industrial/Manufacturing to Technology and the outsourced labor and manufacturing. America has changed, this is FACT

Kim. S., Koh. K., Zhang. X., (2020) Short-​Term Impact of COVID-19 on Consumption and Labor Market Outcomes: Evidence from Singapore. Institute of labor economics. Retrieved from: https://covid-19.iza.org/publications/dp13354/

Campello, M., Kankanhalli, G., & Muthukrishnan, P. (2020). Corporate Hiring under COVID-19: Labor Market Concentration, Downskilling, and Income Inequality (Working Paper No. 27208; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27208