Material gains (produced by more productive workers) don't offset the increases in

    the number of expenses required to minimally live
       (ex:utilities, transpo, insurance, comms) and
    the ever escalating costs of those added requirements

Nor does it offset the accelerating increases in complexity for basic living factors - complexity that consumes internal resources and time.

More to the point, a pocket supercomputer is an irrelevancy for a typical wage worker, who's earnings are far insufficient for even the barest self-sufficiency.