Per capita GDP, per capita consumption, per capita disposable income:
figure 1: Gross domestic product per capita today (blue) and gross domestic product per capita four years ago (tan), both in billions of dollars. Source: Bank of East Asia.
figure 2: Per capita consumption now (blue), four years ago (tan), and annual growth rate of per capita consumption in 2017. Source: Bank of East Asia.
image 3: Disposable income per capita today (blue), four years ago (tan), 2017 US$ SAAR. Source: Bank of East Asia.
Figure 4: Unemployment rate now (blue), unemployment rate four years ago (tan), in %. April's observation was the Bloomberg consensus. Source: Bureau of Labor Statistics.
Figure 5: VIX now (blue), four years ago (tan). Source: CBOE via FRED.
Figure 6: Economic policy uncertainty index (blue), four years ago (tan). Source: Policyuncertainty.com via FRED.
Figure 7: Misery index now (blue), misery index four years ago (tan), expressed as a percentage. The April unemployment rate observation is the Bloomberg consensus, and the inflation data comes from the Cleveland Fed's immediate forecast through April 30, 2024. Source: Bureau of Labor Statistics, Federal Reserve Bank of Cleveland, and author's calculations.
I don't have a time series for the actual median household income index, but I can compare the March 2024 value to the February 2020 value (which Motio research suggests may have been the peak) of 115.8.
source: Motio Research.
I would say that by these measures, even using median income, the answer is “yes.”
