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.


Recommended

by NEWSROOM AI
Read More
Donald Trump and Vladimir Putin – a bromance that'll define your kids' future

Donald Trump and Vladimir Putin – a bromance that'll define your kids' future

The Money Show’s Bruce Whitfield interviews Wits University Professor of International Relations John Stremlau.

Pratley CEO tempts fate, recreates suspended bulldozer stunt on Friday the 13th

Pratley CEO tempts fate, recreates suspended bulldozer stunt on Friday the 13th

"I will still gladly bet my life on the quality of our product," says Pratley Group CEO Kim Pratley.

Beira (Mozambique)… where beer is cheaper than tea (despite ever-present China)

Beira (Mozambique)… where beer is cheaper than tea (despite ever-present China)

The Money Show’s Bruce Whitfield interviews distinguished Africa correspondent Lee Kasumba, who is in Mozambique’s central city.

R24.9 million per year… what the CEOs of SA’s top-10 companies earn (on average)

R24.9 million per year… what the CEOs of SA’s top-10 companies earn (on average)

Ray White interviews Andreas Horak, Associate Director at PwC.

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
Vila Kasi TV station leaves employees out in the cold with no pay

Vila Kasi TV station leaves employees out in the cold with no pay

Employees of the start-up media house are angered for not receiving salaries as promised at the end of June.

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nene asked unions representing Eskom workers to provide ideas to fund wage increases after negotiations with Eskom deadlocked.

How Steinhoff shares doubled in just five days

How Steinhoff shares doubled in just five days

Founder of Herenya Capital Advisors, Petri Redelinghuys, explains how the embattled Steinhoff managed to double its share price in 5 days

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

SA-made Rolkem cake decoration products may not be safe to eat

SA-made Rolkem cake decoration products may not be safe to eat

The UK’s Food Standards Agency issued an advisory, claiming that Rolkem failed to confirm that their ingredients were safe to eat.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.