Essentially, price elasticity of demand. There's a ton of services/products I would consume at an arbitrarily low price that I won't at a much higher price. And some services have a very large labor component.

Why do you think the .1% is making hand over fist right now. They keep jacking up prices and the investor class isn't sharing the profits.

That said, wages have gone up some, but generally not for people that remain at a company, you have to be willing to switch jobs to get the benefit.