I agree that the minimum wage (based on what was cited by the BLS) should be raised significantly because it would reduce that 2.3 - 5% close to zero and would also reduce the big chunk of people lost somewhere in that No Man's Land trying to find better entry level positions into the workforce. There are a lot of other benefits too, but those are two major ones right out of the gate.
Inflation has a lot of weird details too, but that's a different type of discussion.
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