If all jobs were legally required to provide raises at least equal to inflation, what would happen?
Let's say all jobs would have continuing employee's wages adjusted for inflation every year, what would happen? I.e. if an employee makes 50k per year and inflation is 1%, if the employee remains at that company, their wage would then be 50k +1% thus being at least 50,500 the following year but new employees could start at 50k instead of 50,500. The reason im asking is because my current job has a lower raise than inflation which is part of why its a temporary job for me.