Both the supply curves and the demand curves for labor have been undergoing substantial transformations that may simply have shifted the economy to a new equilibrium. Which is an economic jargonish way of saying this may be the new normal.
The new normal is slow wage growth.
I think that one should watch what is happening to non-wage benefits. Anecdotally, I keep hearing more stories about very generous family leave policies. With things like health care benefits and (401) K matching policies, firms have a lot of ways adjusting compensation that do not involve wages. Many of these are difficult for government statisticians to track.