The chart doesn't say anything: It looks like a mean-reverting walk focused on way too small a section to be able to draw any strong conclusions about what the actual mean is.

Zoom out a bit and you get something slightly more useful, which does support your argument, too: wages seem, in general, to keep up with inflation – though with lot of variation. https://si.wsj.net/public/resources/images/BN-MA272_wages4_G...