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

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Article brought to us by Old Mutual.


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