It doesn't help that wage growth has largely been in the "unskilled" sectors (I hate that term, every job is skilled), but inflation reduction has largely been in non-essential goods. Which means that upper-middle to upper income people have been noticing their wages not increasing with inflation despite inflation overall being lower, and lower to low-middle income people have been noticing inflation impacting their budgets despite their wage increases.
But in aggregate, "everyone" is being paid more and "inflation" is down. So at a macro level everyone "should" be happy with how things are going. But human beings don't live at the macro level.