Responses

Should a minimum wage track the cost of living? I'll pull the latest data and arguments for and against. Whether the minimum wage should keep up with the cost of living depends on what you want the minimum wage to do, but if it doesn't keep up, its purchasing power necessarily falls. 1. What "keeping up" means The minimum wage has two measures: Nominal wage is the fixed dollar figure an em

Should minimum wage track living costs? I'll examine what inflation and the research show. Whether the minimum wage should keep up with the cost of living is a normative and economic debate, not a legal requirement under current federal law. There are arguments for and against automatic adjustment. Current status: It does not automatically keep pace The federal minimum was created in 1938 at

Your question touches on economics, fairness and policy tradeoffs — I'll gather current data on how minimum wage tracks cost of living. Whether the minimum wage should keep up with the cost of living depends on the goal of the policy, but economically, if it doesn't, its purchasing power falls. 1. What happens when it doesn't keep up One of the biggest limitations of minimum wage is that it do