This minimum wage would change based on the cost of living in an area, and would require employers to pay a certain percentage above what it costs to live in that area. Say for instance you live in a city where it costs around $50,000 per year to live comfortably there. Under the new minimum wage laws, no employer can legally pay you less than $50,000 + 10% ($55,000) per year to work for them, and that is after taxes and benefits.
The new laws would also prevent over automation, meaning companies will no longer be able to replace human workers with machines (because machines don’t have to be payed) in jobs that can be performed by humans, and a new tax will be introduced making it more expensive to use machines than human workers.
This two prong approach, makes it so that employers have to pay good wages, and have to hire people if they wish to grow their businesses.
Suddenly everyone who wants a good job with good pay, now has access to them.