That pay increase is mostly going out to execs, top management, ceos etc. For common people it has actually been going down since the layoffs started around the end of 2022

> The private-sector hiring rate fell to a 10-year low of 3.8% in March > The quits rate also declined further to 2.3%, below its pre-pandemic level It really is a terrible job market, I don't know why people here don't talk about it.