Laughing hard here. You just invented “trickle-down pay raises”!
If everybody has a degree, the degree doesn’t matter anymore, does it? Being a bachelor of economics will not make you a better burger deliverer. Plus the effect only hold due to a few sectors like IT paying disproportionately - overall, productivity increases over the last 70 years have not been reflected in purchasing power or work hours. The gains disappear into the upper deck.
We need to stop this bullshit mentality that people need to ‘educate themselves more’ to earn a decent living. The shit jobs will always exist, and they should pay well just for being shit jobs, which is what happens in northern Europe where minimum wages are more than enough to live comfortably as a bartender. There should be absolutely no shame in working for McDonalds (except about the food itself).