The mas­sive un­em­ploy­ment

Finweek English Edition - - INSIGHT: LOCAL -

in the coun­try is re­sult­ing in a grow­ing in­debt­ed­ness among house­holds and this seems to be shown by the DIR-re­port. The re­port shows that, com­pared to 1994, aver­age real in­comes have been ris­ing. How­ever, SA still ranks among the most eco­nom­i­cally unequal so­ci­eties in the world. While the poverty in­di­ca­tors show slight im­prove­ment over time, just more than half of South Africans – 52.3% ac­cord­ing to Stats SA – still live be­low the poverty line of R577/month.

The DIR-re­port shows in­ter­est­ing data on house­hold in­come and ex­penses. On page 27 of the re­port, the find­ings of mean per capita in­come and ex­pen­di­ture show that the poor­est 30% of South African house­holds have an an­nual in­come per per­son of R4 000 (in­clud­ing wel­fare ben­e­fits). How­ever, the an­nual ex­pen­di­ture per capita is R6 200, with the dif­fer­ence be­ing made up through debt – and this fig­ure is grow­ing.

Two JSE-listed re­tail groups have also

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