If you look at monthy data to make it more interesting, there are 12-month trailing earnings (inflation adjusted) up to March 31 on that page and the all-time-h

If you look at monthy data to make it more interesting, there are 12-month trailing earnings (inflation adjusted) up to March 31 on that page and the all-time-high is $135.48 on Feb 28 (I think that remains the all-time-high as of the end of Q2, but that's not important). Before the 2008 recession[1], the market peaked in October 2007. Earnings had reached the all-time-high ($104.38 inflation adjusted) on Jun 30, 2007. Over the following twelve months (second half of 2007/first half of 2008) earnings were $60.12, and over the next twelve months 2008/09 just $8.92. Earnings improved from there, but it still took 4 additional years to get back to $100 of earnings over a twelve months period ($78.84 on 2009/10, $95.15 on 2010/11, $98.12 on 2011/12). [1] GDP growth remained positive in the first half of 2008 but by the end of the year it was officially decided that the recession had actually started in Decemeber 2007.