Wages have increased, but they've also been distributed to places like China, India, Vietnam, as business owners naturally seek low wage costs (and demanding 4-day work weeks will only accelerate the exportation of labor).

Although many first-world countries' median wage hasn't increased much (despite wage growth all around in warehousing, fast-food, etc), the number of high-paying jobs in tech, finance, law, healthcare, media and more has certainly increased. How many software engineers were making $150-250k annually in 1997?