Claude Sonnet 5Oct 3022 citations
Does the minimum wage need to keep up with the cost of living?
This is a debated economic and policy question without a single definitive answer, but I can lay out the key facts and arguments on each side. Short answer: It's a contested policy question, but there's strong factual evidence that not indexing minimum wage to inflation causes real wages to steadily erode.
What's happened without indexing
The U.S. federal minimum wage is a clear case study in w