THE UGLY

Finweek English Edition - - THE WEEK -

Trea­sury has warned that a min­i­mum wage above R3 000 a month would result in 715 000 job losses and GDP con­tract­ing by 2.1%. An ad­vi­sory panel on min­i­mum wages pro­posed a min­i­mum wage of R20 an hour, or R3 500 a month – which is still sub­stan­tially below the monthly “work­ing poverty line” of R4 317. Cur­rently, an es­ti­mated 47% of work­ers in the coun­try earn less than R3 500 a month. While im­prov­ing the lot of the work­ing poor is im­per­a­tive, so is the need to make a dent in un­em­ploy­ment, which in­creased to 27.1% in the third quar­ter, the high­est level since 2003.

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