burdensome and protectionism oriented business regulations blocks new entrants and means of doing business. When over a third of jobs require some form of certification, especially in lower paying jobs, it puts an unfair burden on employers and employees. When you can simply get government to regulate away your competition job growth is stifled.

it is always government. from sucking too much money out of the banking industry to make available for business needs to government trying to pick favorites in new industries and distorting the markets. from playing rate games, backing securities, to inducing lending risk by pressuring banks to lend to those they would prefer not too

Even the ACA damaged the ability of those to earn a living by putting in place that infamous twenty hour rule. That wasn't done to benefit working people, that was done to benefit certain types of employers but more it was done to distort unemployment numbers by artificially raising the number of people needed to do that same amount of work each week. This ain't much different than pleads to make college free, keep able bodied people off the job lines.

Sure many of the rich are getting richer but they only do so because those writing the laws are in constant election and reelection cycles. Where they try to write laws prevent you businesses and such putting money into politics but slip in rules that allow PACs to take 350k from one person; provided "wink wink" its not targeted to a specific politician.

tl;dr. Government is the source of the wage stagflation.