The current US minimum wage is so way below market wages in most places to be meaningless, though. I'm sure McDonald's would like to hire people at $7.25/hr (or better yet have robots that they don't have to pay after acquiring). But currently, they have to advertise that their starting salary for workers near me is $14/hr because if they don't they won't get anyone. Politicians like to talk about raising the minimum wage to $15/hr or whatever as if that would suddenly give working class people a huge raise, but it would simply reflect the existing reality.