Just read the New York Times’ article "The Typical Household, Now Worth a Third Less".
http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html?_r=0
Bottomeline:
Median Household was worth about $88,000 in 2003 and 10 years later worth only about $56,000. Add to that a decrease in median income of a few thousand dollars and life has not improved much.
On top of that is seems this economy is making many part time jobs while full time jobs are harder to come by.
http://advisorperspectives.com/dshort/commentaries/Full-Time-vs-Part-Time-Employment.php
http://seekingalpha.com/article/1543592-full-time-versus-part-time-employment-a-closer-look
But maybe people are feeling happier. People feel what they feel.