Automation has increased productivity in many areas. But there are multiple factors of production: labor, natural resources, zoned residential land near jobs. Plus there are other limits to production, such as monopolies and regulation. So if just automation improves, production only increases and prices only fall to a point, until natural resources, marketing, and monopoly profits make up the bulk of the cost. As a 22-year-old entering the job market, all you have is your labor to trade, but you need access to natural resources and constrained goods like housing. Since automation makes your labor less valuable, you actually need to work just as many hours or more to get the same purchasing power. Worse, you end up in a zero-sum game of marketing and sales, where everyone works just to get ahead of everyone else.
There have been a few waves such as the Beatniks where people say eff status I want to relax. Electronics pushed that off for a while, but that treadmill seems to have slowed down. So, I expect the next wave of young people to accept they can live well on a 2 day a week job. https://en.wikipedia.org/wiki/Beatnik
Such is fine for 20-30 year olds without health issues or kids, but does not keep widget factories staffed or pay for pension checks.