The minimum wage is going up. Here's who gains and what the trade-offs are.

Originally reported as: “Regional wage board approves increase in daily minimum wage”

Officials approved a rise in the minimum wage, meaning the lowest amount employers can legally pay workers per day is going up. For low-income workers, this can mean more take-home pay to help keep up with rising costs. Businesses that employ many minimum-wage workers face higher labor costs, and there is ongoing debate about how they respond. The real-world effects depend a lot on the size of the increase and the health of the local economy.