After adjusting for inflation, average weekly earnings increased at an annualized rate of 4.3% in August:
Hourly earnings barely budged, but average hours worked increased 3.6%. This accounted for nearly the entire increase.
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After a period of two years when average real wages were high primarily because of compositional effects they are back to the trend they were on in the long recovery period after 2009, when there was no high inflation:
https://fred.stlouisfed.org/graph/fredgraph.png?g=18kd2
The idea that there is an "overheated" economy with a huge shortage of workers is just fantasy - fairy anecdotal tales told by what amounts to the financial press (which is the part of the MSM that reports on the economy). Are the Fed directors really so stupid as not to understand that wages did not drive inflation and are not doing so now?