Correct. Minimum wage will increase unemployment but also increase the standard of living for the unemployed.
In conjunction with a functioning welfare program to catch the newly unemployed and get them back into the economy or prevent them living on the street, it can be effective against people being out of the unemployment statistic while still not being able to afford living.
In conjunction with a functioning welfare program to catch the newly unemployed and get them back into the economy or prevent them living on the street, it can be effective against people being out of the unemployment statistic while still not being able to afford living.