Average Wages have been growing faster than inflation. [0]
You don't feel it in SF/NYC/Boston/Seattle but that's also due to industry skew, and you absolutely feel the economic change in cities like ATL, Phoenix, Columbus, etc
In the tier 1 cities I mentioned, wages are growing much slower than the cost of living, but that isn't true for the rest of the country anymore.
[0] - https://www.statista.com/statistics/1351276/wage-growth-vs-i...