Maybe I shouldn't have said that. I follow the markets regularly and remember some CNBC articles talking about how that level of rising wages is offsetting the devaluation of the dollar. Whatever. Not sure why you're deciding to hop in and comment on this one particular sentence anyways.The minimum wage increase isn't so much about catching up with inflation as it is about ensuring a minimum livable income without people having to work 60-100 hours a week to cover rent, medical, utilities, etc. bills. A single full-time $7/h job leaves people far below the poverty line in most of the USA.
https://www.cnbc.com/2021/07/08/the-upside-to-inflation-rising-wages.html