Researchers looked at labor data from both the nineteen states that as of 2013 had enforced minimum wages above $7.25 per hour and the thirty-one states that had minimum wages equal to $7.25.

Overall, they found that just a $1 increase in the minimum wage was “associated with a 1.48 percentage point increase in the unemployment rate,” and a “0.18 percentage point decrease in the net job growth rate.”

A higher minimum wage thus led to the unemployment of 747,700 workers and a job growth reduction of 83,300 jobs, the study claims.

The study noted that minimum wage hikes especially took a toll on the employment opportunities for young and low-skill workers.