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
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.
Many people are uttering these nine words around this time of year. Come January they’ll be sorry, but it’ll be too late.
Why is Eskom, seemingly, sabotaging the world’s fastest-growing green energy programme?
Walker Scott Art Advisory’s Dr Fred Scott gives advice on building a high growth African art portfolio.
What does 702’s former Breakfast Show host John Berks believe, hope for and fear about money? Does he have, and want, lots of it?
Only six, far richer, countries have CEOs that are better paid than those in South Africa, according to Bloomberg.
Use this calculator to compare your salary to the world average and averages of 72 countries (including South Africa).