Non-sequetur. The proper statement is relative to the opportunity cost of the next best alternative. With a 99 week cushion, the market rate may not be enough until that cushion is removed. This is just another case where the gov't screws up the market. In terms of economics, the gov'ts role is twofold: 1) the policing of property rights (i.e., a standing military and a legal system), and 2) provision of social overhead capital (i.e., public roadways, egtc.) Our gov't now lets agencies like the EPA set laws that destroy our competitive advantage. The gov't now competes with private business (e.g., SBA, student loans, etc.) which was not the Constitutional intent. Read Charles Beard's An economic Interpretation of the Constitution for more examples.
You forgot to mention the labor market.
We legally issue or renew 750,000 work visas each year, most of them to low skill or medium skill workers.
We also issue more than 1 million new Green Cards each year, most of them to the low skill relatives of other Green Card holders.
Finally, we make no attempt to enforce existing laws against the 11 million illegal workers who live here.
Bottom Line - government policy has deliberately created a massive oversupply of low skill workers and has deliberately crushed the prevailing wage scale.