The Left Behind

Not Just the Higher Ranks

Regular readers will remember CEOs in leading companies – 90% of whom are white – are the 7th best paid in the world, earning a staggering 541 times more than average South Africans.

But what exactly is the reality for the ‘average’ South African?

A 1 to 5 Unemployment Rate

For a start, we know the national unemployment rate stands at 25%, a figure which according to StatsSA has increased from 22% since the fall of apartheid.

We also know that when this figure is broken down into different demographics, we find black unemployment at 39%, whilst white unemployment is only 8.3%.

Even amongst black South Africans with university degrees, unemployment stands at 19% – more than double total white unemployment, a figure which includes whites without university degrees!

What About the Employed?

FEDUSA Logo
FEDUSA Logo

For those lucky enough to be in employment, half are earning less than ZAR3,500 per month – the minimum needed to live, according to the government.

In other words, half of workers are earning 2429 times less than CEOs in leading companies – who on average earn ZAR8.5 million per month each!

Speaking to the Federation of Unions of South Africa (FEDUSA) last week, Deputy President Ramaphosa announced the government would roll out a minimum wage of ZAR3,500 per month in order to combat income poverty and inequality.

Voetsek welcomes this initiative as long overdue!

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