Part 10/12:
These figures highlight a fundamental failure: wages have not kept pace with the skyrocketing costs of housing and living expenses, effectively pushing low and middle-income workers further into financial insecurity.
The Broader Policy Implication and Future Outlook
The ongoing debate pits the ideals of a higher minimum wage against pragmatic economic realities. While advocates argue that higher wages empower workers, evidence suggests that such mandates, especially without considering industry-specific economics, risk doing more harm than good.