South Africa's Ramaphosa signs minimum wage bill into law

Reuters ^ | November 26, 2018 7:16 AM | Olivia Kumwenda-Mtambo

[Olog-hai]

South Africa’s President Cyril Ramaphosa has signed into law the national minimum wage bill, his office said on Monday, part of efforts by the government to tackle wage inequality in Africa’s most industrialized economy.

The National Minimum Wage Act sets South Africa’s minimum wage at 20 rand ($1.45) an hour, equal to 3,500 rand per month. […]

Supporters of the minimum wage say it will reduce inequality and stimulate economic growth as workers spend more.

But critics say it could lead to increased unemployment, already at record highs, because some employers won’t be able to afford higher wage bills. …

[EagleUSA]

Kinda like Venezuela trying to enforce a minimum wage??

[CondoleezzaProtege]

The current leadership of South Africa (while members of the communist African National Congress) received their cues and training from their Soviet KGB contacts towards the tail end of the first Cold War. AKA the ones currently running contemporary Russia's government.

[pepsionice]

Officially, the SA gov’t will say that unemployment is around 27-percent. Most residents in SA laugh...suggesting it’s bogus data...and suggest that it’s closer to one-third of the country unemployed.

[NativeSon]

SA is on the rapid decent to destitution.

They left will not be happy until the entire continent is poor, starving and in a constant state of guerrilla warfare.

[PGR88]

If a mere $1.45/hour will reduce inequality and stimulate economic growth, why not make it $20/hour then??

[Red Badger]

They left will not be happy until the entire continent is poor, starving and in a constant state of guerrilla warfare.

You mean it isn't now?.................

[Diapason]

In the article they are converting based on the exchange rate, not on Purchasing Power Parity. PPP is about $2.30.

[Diapason]

Oops! Correction to my post above. PPP is about $3.30/hr

[NativeSon]

Not yet.

Don't worry, when SA is looted and they run out of food ( a g a i n ), they'll be big concert and catchy tunes to let us know.

[catnipman]

“Ramaphosa’s office said in a statement that while the national minimum wage will not end income inequality, it was a first step towards addressing the clamor for a living wage. “

a “living wage” is possible only when the productivity of a country justifies it ... mandating “living wages” is about as effective as outlawing gravity ...