Well, if an employer is willing to pay someone $10 an hour to do a job, and he finds someone willing to do the job for $8 an hour, that job is worth $8 an hour.
If he needs the job done and is willing to pay $10 an hour, and the cheapest applicant is demanding $12 an hour, the employer has to decide if the job is worth doing, and he decides it's not, the job doesn't exist and is worth nothing, or he pays $12 an hour, and the job is worth $12 an hour.
No government agency exists that can measure the value of a job. No congressional law can mandate the value of a job. The market does all that. And when the government agency and Congress get together to tell the employer that a job that isn't worth more than a couple bucks an hour is suddenly worth seven dollars an hour, then the employer is being robbed, and so are his customers, because he has to pass that inefficiency on to them or lose money.