Do the math. Getting a pay increase on par with inflation is not a pay increase, it’s to keep your pay the same on paper. It’s required in many countries, so it’s not due to the employers’ benevolence. Add to that the soaring transport costs to get to the office, the food prices going up, energy prices, interest rates, rent, fuel etc. You’ll hopefully see that most people aren’t getting raises, they’re losing money every year. At the same time, their teams are being downsized or partly outsourced due to the aforementioned price increases, and the ones who are left have to pick up the slack. Corporations and their owners, however, are doing better than ever.