Price Floor and the Minimum Wage Bill

Government policy has an important effect on the economics system. Whether a government chooses to tax a good, pay out subsidies, imposes a price floor, or set a price ceiling on a good. The most influential price floor issue in the United States would be the Federal statutory minimum wage, currently at $7.25. What does setting a price floor (a minimum price) really do to the economy. The mandated minimum price set above the market equilibrium will create, excess supply, deadweight-loss, ineffecient increases in quality, and misallocation of resources. With the minimum wage issue, the key effect on the job market would be the excess of supply. It is not the American worker who is demanding a job but it is the American employer who is demanding workers. However employers cannot not afford the amount of labor in the market at the mandatory elevated wage level, thereby leaving some unemployed.

The current legislation on the floor proposes an increase to a $10.10 minimum. A survey done by the Wall Street Journal showed that 63% participants would be in favor of the new bill Minimum wage survey Perhaps this indicates a lack of communication of the whole truth to the average American. 

The bill is backed by Democrats and is finding support also from the Republicans who fear opposing public opinion. "The Democrats believe fighting for a higher minimum wage demonstrates they care about working Americans. Republicans argue a wage hike would lead to fewer jobs and actually hurtAmerica." Minimum wage bill

What could the bill do?
European job markets could be a good indication of what is down the road for the U.S. with a higher minimum wage.
"There are nine countries with a minimum wage (Belgium, Netherlands, Britain, Ireland, France, Spain, Portugal, Greece, Luxembourg). Their unemployment rates range from 5.9% in Luxembourg to 27.6% in Greece. The median country is France with 11.1% unemployment...The biggest country in Europe is Germany. No minimum wage and 5.2% unemployment." What does high minimum wage do?
Germany did have a high unemployment rate. They did away with there minimum wage and allowed for more low-wage jobs and wage subsidies. We have the potential to offer some a higher wage but at the expense of more being out of work entirely.

Along with creating a higher unemployment the minimum wage takes away the employers' ability to compete for good employees. Employees are less willing to stick around with a certain company if  they can get a comparable salary elsewhere, thereby effecting retention rates. They cannot attempt to attract employees with a higher salary. How can employers find and compete for the best labor?