That's the idealized assumption in a simple supply/demand, all-else-equal model, but there's actually little empirical evidence that minimum wages, at least at the level contemplated in the U.S., actually do have an impact on unemployment in the world world, except on part-time work by teenagers. So economists' consensus has weakened on that from what it was if you had polled them 30-40 years ago.

One among many possible positive effects of higher minimum wages is to shift the threshold at which it becomes profitable to upgrade low-tech processes to computerized ones, which can modernize sectors of the economy, and create some highly paid jobs [1]. Another positive effect is to redistribute more money to people in the remaining low-end jobs. But economies are complex and full of feedback loops, so those aren't really well established either.

[1] As an AI researcher, of course, this benefits me: humans undercutting us is one of our top problems with deploying research in the real world.