Also, thinking about people's wages increasing, while that may hurt to company that is paying the wages, it will be good for another company, when the wages are spent on their product or service.
Lots of small businesses and self employed people rely on other people having that bit more spare cash to spend, not a great deal more, just enough to go towards paying someone else's wages when they go to the hairdressers or buy a takeaway, for example. The extra money is circulated around the economy.
NHS U turn on trans terminology