evidence: Minimum Wage Has Not Kept Up With Inflation While the minimum wage has been adjusted numerous times since its implementation in 1938, it has failed to keep up with inflation and the rising cost of living. The purchasing power of minimum wage reached its peak in 1968 and steadily declined since. If it had kept up with inflation from that point it would have reached at least $10.45 in 2019. Instead, its real value continues to go down, meaning minimum wage employees are essentially being paid less each year. [...] Wage increases have even been linked to reduction in crime and recidivism rates. One comprehensive study found that a minimum wage increase of 50 cents reduced the probability that a person returned to prison within one year by 2.8 percent. Rates of drug and property crime were reduced when wages increased, concluding that if legal well-paying jobs are made available, people will not be as likely to engage in criminal activity as a source of income.