Over seventy percent of the working adult population account for only 10 percent of the total cash flow income in the country.
This is according to a study by the Bureau of Market Research on personal income estimates.
The research shows 8.7 percent improvement in total income of R5.64 trillion in 2022.
But the increase has been driven largely by earnings from investments. It also found huge income inequality among working South Africans.
Senior Researcher of the Bureau of Marketing Research, Jacolize Meiring explains.
“Resulting impact what we’ve seen now even further intensified by things like load shedding all the structural problems we have in the South African economy not really being able to create the necessary jobs and where there are jobs, we actually see that those jobs are not on the same level as high paying levels. Another research the bureau marketing has done is that jobs in South Africa, in many cases only requires matric or grade 12 qualifications is actually filled by tertiary level educations employees and that does not allow or make opportunities for our grade 12 learners that when they finish school to actually find employment. I think it is a global problem that we need to make sure that this national problem is addressed in all terms.”
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