I work at a private consulting engineering company.
I can assure you that no one there - all competent college grads - has had cause in the last decade to brag about how much their salaries have been inflating. :)
If you want to talk medical, there is some hefty inflation for sure.
New work has been hard to win following the beginning of the recession. Profit margins are literally non-existent so that the newer job budgets are routinely raided to complete older work. This problem is exacerbated by the ever more stringent environmental and other regulatory hurdles. Those letting the jobs understand our problems but they have only so much available to pay for performing the work.
So if you can arrange it, please some compensation inflation our way.
I own a tool and die company that has been watching more and more work for a long time get sucked over there and have been seeing an easing lately.
That is where this move is really going to hurt, wait a while and watch the trade deficit start to skyrocket again, which is exactly why they are doing it.