Muse Spark 1.2Oct 263 citations
Does the minimum wage need to keep up with the cost of living?
Your question touches a classic cost-of-living debate — I'll pull current data on how minimum wage tracks inflation and living costs.
Whether it "needs" to depends on what you want the minimum wage to do - but in economic terms, if it doesn't keep up with cost of living, it loses value.
1. What "keeping up" means
The cost of living is generally measured by inflation, the rate at which prices f