I think he's talking about the labor market here. Conventional microeconomics would suggest that increasing the price of labor by setting or increasing a minimu

I think he's talking about the labor market here. Conventional microeconomics would suggest that increasing the price of labor by setting or increasing a minimum wage would reduce the demand by employers for the product, human labor. That may be true in the limited case, but the argument is clouded by questions like whether increasing income of all of the employers' customers would allow the employer to do more business or raise prices, thus potentially increasing their demand for labor to compensate. I can't see any doubt that this would happen, but the extent is hard to determine. How much will the average consumer's wages actually increase, and how much of that will be taken up by increased prices in other goods they buy? If they end up with more money, what will they do with it - save more, buy higher-quality goods, buy luxuries? So the overall effect on any particular business is unknown.