The reason why it would increase the unemployment rate is because well-known industries and companies prefer to hire workers with higher skills instead of people who have no experience. This would mean that people who lack such skills would have a harder time finding a job. Furthermore, industries and companies become highly competitive against each other and this can also cause unemployment. According to the article “The Minimum Wage: Getting to $15,” businesses will also be hurt by the minimum wage increase. The higher the minimum wage would make it almost impractical for American companies to compete with other low-wage foreign countries. Another reason why raising the minimum wage would reduce unemployment is because according to High Pay, Fewer Jobs (Douglas Holtz Eakin and Ben Gitis) “The other two models indicate even greater losses, indicating that a minimum wage of $15 an hour it would lead to 432,200 and 588,000 fewer jobs in the “medium impact” and “high impact” scenarios respectively. Furthermore, according to COUNTERPRODUCTIVE: The Employment and Income Effects of Raising America's Minimum Wage to $12 and to $15 per Hour (Douglas Holtz-Eakin & Ben Gitis) “the minimum wage of $15 per hour could mean the loss of 6.6 million jobs” which in that case would not help the economy or the