Will Higher Minimum Wage lead to higher unemployment?

According to cnn, the federal minimum wage is set to increase from $6.55/hour to $7.25/hour on July 24, 2009. This is the first raise in quite some time and will only occur in states that have less than $7.25/hour rates currently--All told, this effects 29 states.

You can see on the table to the left which states have the highest minimum wage (Washington, Oregon, Vermont, California, CT, IL, MA, Nevada, New Mexico, Michigan, Rhode Island, Ohio and Colorado)---It's interesting to note that many of these states have extremely high rates of unemployment already, and according to economists there is a risk that when the price of labor goes up---the demand for labor goes down. This could cause yet more increases in the unemployment rate in the US during Q2 and Q3 2009. (Watch out 10% here we come!)