No, you're misreading the data. Comparing GDP, household incomes, real wages, total compensation, and household incomes is a non-trivial activity - it's easy to compare two numbers which are not actually directly comparable. Plus you have long-term factors such as an aging population, changing workforce participation, a shift from employers increasing wages to increasing benefits, and a larger share of wages going to the top 1% at the expense of everyone else. Combine that with increases in living costs which are typically not included in the measure of inflation, e.g. housing, and you've got a complex piece of data analysis to grapple with.
If you want to do a simple but meaningful ballpark comparison, compare total compensation with GDP [1]. It decreased by 4.5% from 1970 to 2016, meaning that workers are taking home a slightly smaller share of the "real" economy. Now recall that many costs have increased above the rate of inflation, e.g. housing, medical, education, so that money doesn't go as far as it used to.
If you want to do a simple but meaningful ballpark comparison, compare total compensation with GDP [1]. It decreased by 4.5% from 1970 to 2016, meaning that workers are taking home a slightly smaller share of the "real" economy. Now recall that many costs have increased above the rate of inflation, e.g. housing, medical, education, so that money doesn't go as far as it used to.
[1] https://en.wikipedia.org/wiki/Household_income_in_the_United...