"In 2010, Joseph Sabia and Richard Burkhauser estimated: 'nearly 1.3 million jobs will be lost if the federal minimum wage is increased to $9.50 per hour.'"

Raising the minimum wage could lead to job losses, as businesses may not be able to afford the increased labor costs. Small businesses, in particular, might struggle to absorb these costs and could respond by reducing their workforce, cutting hours, or even closing.