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Minimum wages are effective when economies are growing fast - Dr Iraj Abedian

25 April 2018 7:34 PM
Tags:
National Minimum Wage
Minimum wage
Iraj Abedian
South African Federation of Trade Unions
saftu
minimum wage bill
National Minimum Wage Bill
Saftu strike
Dr Iraj Abedian
Pan-African Investments and Research Services CEO Dr Iraj Abedian on what we should know about the impact of the minimum wage.
Marchers protest against the national minimum wage on 25 April 2018. Picture: @SAFTU_media/Twitter

The South African Federation of Trade Unions (Saftu) has gone on strike over proposed labour law amendments, which include the minimum wage bill.

Saftu affiliates describe the proposed minimum wage of R20 an hour as an insult.

They demand a R12 500 minimum salary for all workers.

The Money Show’s Bruce Whitfield interviewed Pan-African Investments and Research Services CEO Dr Iraj Abedian.

Abedian discussed everything we should know about the impact of the proposed minimum wage:

  • A minimum wage is a double edged sword (it is good, and it also bad)

  • The proposed minimum wage may not work, and it may not be sufficient

  • The minimum wage may lead to job losses at some companies. Many small businesses, especially, may not survive; resulting in an increase in the unemployment rate.

  • If the economy does well, a minimum wage may work. The economy needs to grow .

(Also read: ‘Economics is about morality’ - Dr Iraj Abedian)

For more detail; listen to the interview in the audio below.

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25 April 2018 7:34 PM
Tags:
National Minimum Wage
Minimum wage
Iraj Abedian
South African Federation of Trade Unions
saftu
minimum wage bill
National Minimum Wage Bill
Saftu strike
Dr Iraj Abedian

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