Politics, news & academia

Minimum Wage vs. Living Wage

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duma-maseko
duma-masekoHost

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The unemployment rate in South Africa is currently sitting at 27,1 percent. The highest it's ever been in 13 years! The cost of living is increasing daily and yet there are still employed people earning less than R2000 per month... The proposed minimum wage of R3500 would still not meet the monthly needs of a standard South African family
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The proposed minimum wage is not intended to be a living wage but it is definitely better than what some people are currently receiving. I see it as a way to protect the exploited and to raise their standard of living to an extent
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Looking at a few statistics, about 35% of South Africans earn less than R2000 per month and close 47% earn less than R3000. That is absolutely shocking! But achieving a living wage is a much broader discussion that requires looking into other factors like the growth of the economy and the nature of work available. There's levels to this employment thing. We simply can't view this issue in isolation.
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Things I Can Do With R3500 per month?
I'm a student and that doesn't even cover my monthly rent - now imagine trying to run a fully functional household on that. Sheesh
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Things I Can Do With R3500 per month?
I'm a student and that doesn't even cover my monthly rent - now imagine trying to run a fully functional household on that. Sheesh
Mind you, others are saying the minimum wage is too high given the current state of the economy. Ultimately, this may lead to even fewer jobs being available and an increase in the unemployment rate.
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Yes of course there are multiple layers to this discussion BUT BOTTOM LINE IS no household or family can afford to live on that amount. The fact that some people actually work a full day for such little pay...
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The development to build up a living compensation for all laborers takes a gander at the average cost for basic items in a given zone. A few states and nearby locales have laws that require installment of living wages to specific specialists. The lowest pay permitted by law built up by elected, state and nearby government law sets the most reduced wage a business may legitimately pay to specialists. Financial specialists compute the income an individual or a family needs to bolster an OK way of life. The computations for living wages and least wages utilize diverse criteria for deciding the pay expected to manage a sensible agreeable way of life.
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The development to build up a living compensation for all laborers takes a gander at the average cost for basic items in a given zone. A few states and nearby locales have laws that require installment of living wages to specific specialists. The lowest pay permitted by law built up by elected, state and nearby government law sets the most reduced wage a business may legitimately pay to specialists. Financial specialists compute the income an individual or a family needs to bolster an OK way of life. The computations for living wages and least wages utilize diverse criteria for deciding the pay expected to manage a sensible agreeable way of life.
Yet some economists say that the R3 500 is too high a minimum wage for this country and that our economy might not be able be able to cope and may be affected adversely should the wage be implemented
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Yet some economists say that the R3 500 is too high a minimum wage for this country and that our economy might not be able be able to cope and may be affected adversely should the wage be implemented
The minimum wage is shocking. You can't live, much less support family on that. But the economists are right when they say it's too high.

Taxes in SA are only paid by 6 million citizens. 16 million others are on social grants. Already unsustainable. Now to increase the minimum wage on top of that... Our economy can't support it.
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No group cries and throws tantrums louder and more persistent than business. No matter how much you give them, the more they cry they're left out and wages are no different. They always say wages are too high and yet if you let business decide the price of labour, economies always falter because they pay too little to enable an economy to grow. They want to have all the money only to cry about people not spending money.

If people have no money, there is no money to spend and no economies to grow.

Minimum wage is just that. A minimum wage and without it, wages would be much less and as wage growth shrinks for everyone not of the upper crust, our economies falter once again.
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The lowest pay permitted by law laws, with a few exemptions, apply to all specialists in a given locale, whether in people in general or private segment. The Reasonable Work Gauges Act, or FLSA, built up the government the lowest pay permitted by law and controls for applying the laws.
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