My favourite department in my favourite state school is trying to slow turnover by extending the contract length for non-tenure-track teaching staff - it's now renewal every three years instead of every year. Payment is still the same - USD 40000 for a full load in a high-tax state in the Northeast.

When you have a stream of qualified and sufficiently desperate applicants you don't have to offer more money than the competition; there are other ways of not being just as awful as the rest of them. Academia is still busy finding out where the wage floor lies.