I bet if the trucking companies decide it to start all of their employees at 110k they'd have no shortage of people willing to drive.
One side of America has been celebrating a reduction of migrants entering the country for four years, and now suddenly business owners are seeing that resource pool run dry. Even if these business owners did not rely on immigrant laborers, their own workforce is finding more opportunities. In many ways, it seems like that particular populist administration has provided what was promised.
Unless there is some major shift back to the norm, I can see businesses shifting to leverage labor more productively. I don't think this is a bad thing - America has always been addicted to its cheap, exploitable labor and this trend has gotten worse over the last three decades. Hopefully, these changes can continue to be more equitable to both sides. I could also foresee a reduction in excessive consumption - maybe a reduction in the number of "fast casual dining trends" and other horizontal growth trends.
This is like saying that there is no housing shortage, just a shortage of people willing to pay a fair price.
$4.75 is half the state minimum wage, and a fraction of what anywhere near me is starting people out at. No one pays minimum wage any more. Target is paying $15/hr to stock shelves.