Does raising minimum wage cost jobs?

I've' posted about this before.L.A. actors oppose a pay hike – it will cost jobs!  I'm agnostic on raising the minimum wage – it should be left up to the states. 

There's an interesting experiment going on in Oregon over this – the article is from yesterday's Guardian (UK). It looks at both sides of the issue.

In an attempt to balance the political and socio-economic disparity between Oregon’s rural and urban regions – in a state with only four million people – the minimum wage will rise incrementally over six years in three regions: rural areas will increase to $12.50, mid-sized counties to $13.50, and its largest city, Portland, to $14.75.

Jessie Burke is concerned about the impact it might have on her business, Posies Bakery & Cafe, in North Portland. “Small businesses like mine are frequently communicated with as if we were a Fortune 500 operation, but we are not,” she said. “When wages go up, prices have to go up. There’s no margin to absorb that cost.”

She goes on to say she'd be "thrilled" if it does work out for everybody.

However Mrs. Clinton is sure there's no downside – which leaves me to believe there's probably a big downside.