With cost of living going up, minimum wage going up, you think business would think to bump their base wages up to account for cost of living. But not everyone does, and some that do don't do it by much.
One example is my gf: set production assistant wages have not gone up with cost of living in the area, at least for the companies she works for. Set production assistants are freelance, non-reliable work with sometimes terrible hours. You think they'd make okay money. But even in L.A. where the industry is at it's biggest, they're usually shortchanged.
Another example: A friend of mine accepted a position as a mid-level gameplay programmer at a place that is choosing to pay them hourly so they can make them work overtime without having to pay $100k or more, because of CA law. Yet another business strong-arming someone who wasn't in a good position to negotiate due to circumstances. Hopefully that friend can work their way into a senior level position soon, but even then not every place pays senior level as well as they should.
Industry can be very stingy, focusing on the short-term business instead of long term employees.