General equilibrium exists though, if the supply of workers increases you usually see businesses which were previously non-viable appear to take advantage of them at similar rates.

You can illustrate this by doing the other direction: if we killed half of the workforce, would real wages double. Unlikely! You'd probably just see broad-based inflation for a while until wages equalized again.

For a first-take study on this, see https://davidcard.berkeley.edu/papers/mariel-impact.pdf