Our situation may be different as we don't have a land border, but for us a decent minimum wage based on living costs (not businesses ability to pay), has worked well for most of a century.
I haven't checked but it would be over $20 an hour. Our unemployment levels are comparable or less than most. The example of the US working poor is viewed with horror here.
Our government does increase the value of unskilled labour at times, by paying employers subsidies to train them.
At the end of the GFC it was countries like us, the Scandinavians, and New Zealand who came out best, despite our regulated labour markets.
