I can't speak for the whole economy, but when I was making $4.75 and the minimum wage increased from $4.25 -> $4.75, it had an effect on my morale (when i saw n

I can't speak for the whole economy, but when I was making $4.75 and the minimum wage increased from $4.25 -> $4.75, it had an effect on my morale (when i saw no increase).