This isn't necessarily the case, as shown by countries like Australia with very high minimum wages.
This starts at $20.72 (14.92 USD) for fulltime, and $25.90 (18.64 USD) for casual work.
There's higher wages based on experience and responsibilities, as well as penalty rates. Public holiday pay starts at $56.98 (41.01 USD).
As someone who has recently moved from Melbourne to Boston; if anything I feel like Australia has a lower cost of living. According to the one source I found, prices including rent in Boston, MA are 36.53% higher than in Melbourne
https://www.fairwork.gov.au/ArticleDocuments/872/storage-ser...
https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou...