Tweet here. Both series indexed to 100 in Jan, 2010, so lines show percent change relative to that date.
S&P 500 index is adjusted for inflation and dividend yields.
“Paycheck” is the real weekly earnings of the 80% of the workforce that are blue-collar workers in manufacturing and non-managers in services.
Thanks to the tight job market and low inflation, the latter has been growing of late (see fig below) which you don’t really see given the scale on the figure. That’s not chicanery, ftr; it underscores my point re relative growth rates.