Inflation isn’t that much on its own. It would be about $10 per hour according to the inflation calculator, but inflation calculators also don’t take CoL changes which have skyrocketed.
I don’t know what math they used to get the $25 number, but inflation might be baked into it anyways. No way 1000% on top of $25 would be realistic is any way.
The CPI does not accurately reflect how worthless our money has become, in my opinion. I’m unemployed now, but when I was making 140k USD/year a couple months ago it felt to me like that minimum wage should be about there. It’s enough to feel comfortable and safe, without much luxury. This ought to be considered the absolute bare minimum quality of life for full time workers and their dependents in the world’s wealthiest nation.
Has unskilled labor actually become more productive? My guess is that productivity increases are happening mostly for medium- and high-skilled workers, and that’s why minimum-wage workers are naturally getting left behind.
There is no such thing as an unskilled worker. You have to learn how to use a mop or a broom, and carrying boxes or painting a room takes skill. Also, the server who drops a tray gets yelled at, while the top exec who costs the company millions is shrugged off.
It's absolutely expected at the bottom rungs. Computers have taken some jobs away but stores are so understaffed these days. Just watch jon Oliver's report on the people who work at dollar stores. There is no way I would have put up with that crap for such a low wage when I was younger but now it's much more common.
I wonder what CEO incomes were in this case. My guess: Still only about 10x more than the average workers wage (as it used to be during the 50’s to 70’s).
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