Interesting question, in 1972 a Corvette was 5,200 bucks, a home about 40,000 bucks, if inflation can be held in check, the dollar will be worth more. The higher wages means products cost more.
When you learn a skill that is valuable to employers, you don't have to settle for minimum wage. If you want higher wages, you improve yourself, not wait on the government to come to your rescue.
When you don't have a job and get offered one for $7 an hour you take it especially if you have filled out more application than you care to remember. Let me tell you I am not to proud to not work for 7 dollars an hour to pay rent and put food on the table, help to support my family.*