Is indexing minimum wage to inflation a good or bad idea?

Ok the dog is walked. Juicy BLS datas:
Civilian labor force participation, percent: http://www.bls.gov/emp/ep_table_303.htm
Civilian labor force, number: http://www.bls.gov/emp/ep_table_304.htm

I prefer to look at the 25-64 population as a core group. That helps avoid affects from students and retirees. BLS doesn’t call that out separately, but some quick arithmetic gives us the following participation rates (2024 is a projection):

1994: 79.3
2004: 78.9
2014: 76.9
2024: 77.6

Sample calculation for 1994:

131,056 16+ labor population
3,140 65-74 labor population
694 75+ labor population
21,612 16-24 labor population

105,610 25-64 labor population

Out of a 25-64 civilian noninstitutional population of 133,253 gives us 79%.