Satisfaction is largely a relative thing. People notice if their situation is improving / staying the same / getting worse. They don't so much care about their absolute ranking in society.
If you didn’t get a raise, that sucks. If your friends got laid off... well, then keeping your salary is great. If no one got laid off but you were able to buy a new x and none of your friends were, regardless of income changes, you’re still going to feel better. It’s “keeping up with the Joneses”.
If you are not "losing" anything in daily life, but also not gaining much, you may be inclined to feel better or a least more optimistic.