WARNING OVER NEW MINIMUM WAGE FOR SOUTH AFRICA
The Free Market Foundation has warned that the introduction of a higher minimum wage in South Africa in 2022 could further damage the countrys job market.
In a submission to the National Minimum Wage Commission this week, the think tank said that an increase would be especially harmful as the country continues to grapple with record-high unemployment levels.
South Africas unemployment rate hit a new record high of 34.4 in the second quarter of 2021, data from Stats SA showed. It said that the number of unemployed totalled 7.826 million people in the three months to the end of June, compared with 7.242 million people in the previous three months.
In simple terms, an effective minimum wage re
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