The process is called wage inflation.
The minimum wage inflation escapes to the general population where prices rise to make business profitable and then the relative desparity between the capable and those less capable resumes. That is, the relative inequality returns to the mean.
Adjacent states without the disparity inflation will profit
But now the Wall Street class views it as a crises which and needs to be addressed with more immigrants and also eliminate the minimum wage.
And we wonder why Republicans never seem to get a majority....