Met die Begrotingsrede vandeesweek in die nuus het die aankondigings van 2023 se minimumloon amper onbespreek verby gegaan. Dit het egter ingrypende gevolge vir werkers en werkgewers en ek wil graag meer hieroor sê. Ek is Waldo Krugell en hierdie is die Landbou-ekonomie Minuut, ondersteun deur RAiN geoktrooieerde rekenmeesters. Boer jy die lande, hulle boer die res.
Die nasionale minimum loon styg vanaf eerste Maart tot R25,42 per uur. In persentasie terme is dit ‘n styging van 9,7%. Dit is hoër is as wat verwag is en hoër as verlede jaar se gemiddelde inflasiekoers van 6,9%. Vir die werkers is ‘n reële verhoging goeie nuus en dit hou die koopkrag van hul loon in stand. Ons weet dat werkers op hierdie lae inkomstevlak die afgelope jaar veral swaar getref is deur skerp stygings in die pryse van voedsel en vervoer. Vir werkgewers sal die verhoging bydra tot kostes in ‘n tyd wanneer die meeste ander insette ook duurder is. Dit lei tot ‘n verlies aan winsgewendheid of die behoefte om sommige van hierdie kostestygings aan verbruikers deur te gee, indien moontlik.
Daar word dikwels aangevoer dat verhogings in die minimum loon tot werkverliese lei, maar studies toon dat die impak wissel tussen sektore, of volgens die grootte van die maatskappy wat die minimum loon moet betaal. In die landbousektor het stygende minimum lone tot werkverliese op klein plase gelei, maar groot boere het eintlik meer ongeskoolde werkers in diens geneem. In die kleinhandel was daar geen werkverliese by groot of klein besighede nie.
Interessante navorsing uit die VSA toon dat die impak van minimum lone ook verskil tussen werkers. ‘n Hoër minimum loon verminder die aantal ure wat werkers in diens was. Dit het gebeur omdat lae-produktiwiteitwerkers vervang is met hoë-produktiwiteitwerkers wat meer in minder ure kan doen. ‘n Goedbedoelde beleid kan die einste mense wat dit probeer beskerm, benadeel.
What the minimum wage means for workers and employers
With the Budget Speech in the news this week it was easy to miss the announcement of the 2023 minimum wage. Yet, it has important consequences and I want to say a bit more about it. I’m Waldo Krugell and this is the Agricultural Economics Minute, supported by RAiN chartered accountants. You reap the harvest, they reap the rest.
The national minimum wage increases to R25.42 per hour from the first of March. In percentage terms it is an increase of 9.7% which is higher than expected and higher than last year’s average inflation rate of 6.9%. For the workers a real increase is good news and it maintains the buying power of their wage. We know that workers at this low income level were particularly hard hit by steep increases in the prices of food and transport in the last year. For employers this will add to costs at a time when most other inputs are also more expensive. That translates into a loss of profitability or the need to pass some of these cost increases on to consumers, if possible.
It is often argued that increases in the minimum wage translates into job losses, but studies show that the impact varies between sectors, or according to the size of the company that has to pay the minimum wage. In the agricultural sector, rising minimum wages led to job losses on small farms, but large farmers actually employed more unskilled workers. In retail, there were no job losses at large or small businesses.
Interesting analysis from the U.S. shows that the impact of minimum wages also differ by workers. A higher minimum wages decreases the number of hours workers were employed. This happened because low productivity workers were replaced with high productivity workers who can do more in fewer hours. A well-intentioned policy can harm the very people it is trying to protect.
