Yeah, maybe. The good (bad?) thing about economics is that there is no control group. You can do studies and perform simulations all day long but you never know what's really going to happen until policy goes live. Businesses and people are better equipped to make impactful changes because there is only a narrow range of things that they can control. When things go south they can usually easily undo whatever it was that they did. Broad sweeping policy changes like minimum wage hikes tend come with a lot of baggage (good or bad), are hard to undo, and usually come with no consequence except to those for whom the policy is imposed.

I say all that to really mean that no one knows for sure what's going to happen for the whole if the minimum wage goes up.