A historic milestone just hit: for the first time, the majority of American workers are now employed in states with a $15/hour minimum wage or higher—a significant shift from the long-standing federal floor of $7.25. This trend reflects growing pressure from cost-of-living increases and regional labor market dynamics. The widening gap between high-wage and low-wage states could reshape consumer spending patterns, inflation expectations, and ultimately the macroeconomic backdrop that influences investment flows across asset classes.