The conversation in the media I see is about quiet quitting, a term that has varying definitions but focuses the conversation on the work ethic of the worker. The real problem in my opinion is that wages lag behind inflation and way behind worker productivity. This has certainly been noticed by others and maybe there is a term for it, but I propose calling it Slow Firing. Let's define it:
Slow Firing: the common practice of an employer giving low / no raises that result in the salary paid:
1) Not keeping pace with inflation OR
2) Keeping place with inflation but maintaining only an entry-level salary despite years of experience OR
3) Increasing beyond entry-level but not reflecting the increased responsibilities and experience of the worker.
Any of those three scenarios leads to workers who are increasingly underpaid and whose only option for fair compensation is leaving the company and getting a new job. This costs the company significant money to replace the worker, if the worker can even be effectively replaced. However the company would rather lose more money to these operational losses than employee salary.
By focusing the media conversation on the company practice of Slow Firing, we highlight the CAUSE of the problem rather than the worker's response to it.