system
A chat on subreddit /r/NoStupidQuestions
human
In the UK £40k in 1995 due to inflation would be about £75.5k now, so interestingly similar.  However wages here have in no way kept up with inflation either.

Edit: As u/colin_staples points out, house prices and rent have outpaced both inflation and wages, meaning most young people are struggling to ever own their own house.
gpt
Except for minimum wage, which has gone up from £3.60 to £9.50. Skilled/professional wages have massively stagnated though.