I think "real" wage growth is exactly that point. There hasn't been any, and the recent growth is miniscule and is not even close to having kept up with inflation over that time.
To maintain his buying power since 1963, a blue-collar production worker should be earning about $5000 a week 60 years later. That just does not occur.
It's the main reason that the US is no longer as rich and powerful as it was in the 1960s. If the 'working man' is not able to spend as much as he once could, the economy is a lot weaker than it should have been.