Anger, disbelief (and praise!) for recommended R3500 national minimum wage

If the research is correct [that 47% of workers earn less than R3500]; it’s going to make a very big difference.

Chris Todd, Bowmans

International experience have shown that few [employed] people will get laid off because of this. The unemployed, however, might find it more difficult to find an entry-level job.

Chris Todd, Bowmans

The introduction of minimum wages in agriculture was very detrimental to employment.

Dr Azar Jammine, Econometrix

Deputy President Cyril Ramaphosa released a report about minimum wages on Sunday.

In it the authors propose a national minimum wage of R3500.

The report provoked anger and disbelief among some while others hailed it as a good recommendation.

The Money Show’s Bruce Whitfield interviewed Chris Todd, Head of Employment at Bowmans and Econometrix's Dr Azar Jammine.

Listen to the audio below for the frank analysis (and/or scroll down for more quotes from it).

You have to back it up with research about what the impact will be.

Chris Todd, Bowmans

Many industries operate with minimum wages.

Chris Todd, Bowmans

Government recognises that excessive wage demands – relative to productivity - lead to unemployment.

Dr Azar Jammine, Econometrix

There’s a huge groundswell of support for a national minimum wage.

Dr Azar Jammine, Econometrix

R3500 is low enough to not cause massive mechanisation.

Dr Azar Jammine, Econometrix

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
Mining Charter has been put on ice. Here’s what comes now…

Mining Charter has been put on ice. Here’s what comes now…

The Money Show’s Bruce Whitfield interviews Partner at Dentons South Africa Vanessa Jacklin-Levin.

How to understand you customers

How to understand you customers

Do you know, and “get”, your customers? The Money Show’s Bruce Whitfield interviews small business guru Pavlo Phitidis.

How to know if your investment's fees are fair (and how to negotiate them down)

How to know if your investment's fees are fair (and how to negotiate them down)

Do you know what you’re paying, and how much you should be? Personal financial advisor Warren Ingram explains…

How politics affects business and the money (or lack of it) in your pocket

How politics affects business and the money (or lack of it) in your pocket

The Money Show’s Bruce Whitfield interviews Grant Thornton SA Head of Advisory Services Gillian Saunders.

South African CEOs are 7th best paid in the world (best pay-to-average-income)

South African CEOs are 7th best paid in the world (best pay-to-average-income)

Only six, far richer, countries have CEOs that are better paid than those in South Africa, according to Bloomberg.

Do you really earn peanuts? Use this handy salary comparison calculator

Do you really earn peanuts? Use this handy salary comparison calculator

Use this calculator to compare your salary to the world average and averages of 72 countries (including South Africa).

Popular articles
Shocking claims of how Eskom deliberately caused 2008 and 2014 load shedding

Shocking claims of how Eskom deliberately caused 2008 and 2014 load shedding

Former Eskom employee reveals how the load shedding of 2008 and 2014 was “self-inflicted" by Eskom.

Double taxation looms for citizens working abroad

Double taxation looms for citizens working abroad

SA's new tax laws are pushing towards scrapping tax exemptions for South Africans earning a salary in foreign countries.

Sim swap scam: "They get the pin number and then clean out your account"

Sim swap scam: "They get the pin number and then clean out your account"

Consulting forensic scientist David Klatzow gives a detailed break down of the sim swap scam where criminals are hijacking phones.

Safety concerns at Newlands stadium

Safety concerns at Newlands stadium

They've been concerns around the safety of rugby fans attending rugby matches at Newlands Stadium.

International “one ring” phone scam can cost you big bucks

International “one ring” phone scam can cost you big bucks

My Broadband's Jan Vermeulen explains that as fast as the service providers block the numbers, new ones crop up.

13 random thoughts on living a happier, less materialistic life

13 random thoughts on living a happier, less materialistic life

Kabous le Roux shares 13 random thoughts he has on being less materialistic and living the good life right here, right now...