Hourly rate is only realistic way to monitor compliance with minimum wage
Success will depend on setting the minimum wage high enough to close the wage gap, but not so high that businesses cannot afford it
Deputy President Cyril Ramaphosa signed a national minimum wage agreement into existence on February 8 — the culmination of years of debate among labour, business, the government and economists. The arguments about whether a national minimum wage agreement will close the wage gap and stimulate the economy or rather lead to job losses, can be set aside. We should now focus on what needs to be done to ensure that it is a success for workers and businesses alike. With implementation set to begin in May 2018, the government is proceeding with caution. Many details in the agreement still need to be fleshed out as the government creates draft legislation for the National Economic Development and Labour Council (Nedlac) discussions and public comment before promulgating an act. Minimum wage value The success of a national minimum wage will depend on setting the minimum wage at a high enough level to close the wage gap, yet not so high that businesses cannot afford it or decide to automate ...
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