After issuing another call to interested parties to submit written views concerning proposed revisions to South Africa's national minimum wage in 2024, the National Minimum Wage (NMW) Commission stated that it is sitting with three ideas on the table.
The NMW Commission has issued a report in the Government Gazette.
The report is to convey the Commission’s findings and recommendations on the yearly review of the national minimum wage, as well as to welcome written public comments.
These are the three ideas presented in the report:
Recommendation by the majority is Consumer Price Index (CPI) plus 3%. Eight of the 12 commissioners propose that the national minimum wage increase by CPI plus 3%.
Recommendation by the Business Constituency is CPI.
Recommendation by an independent expert is CPI plus 0.75%.
“The CPI is a measure of the change in prices as paid by consumers for goods and services over time. In South Africa, the latest consumer price inflation as published by Statistics South Africa was 5.9% in October 2023, up from 5.4% in September 2023,” said the Department of Employment and Labour.
“The latest invitation for inputs by the National Minimum Wage follows similar calls in August and September 2023. The request is conducted in accordance with section 6(2) of the National Minimum Wage Act, No. 9 of 2018. The Commission comprises representatives from organised labour, business, community and experts in the field of labour market and conditions of employment.”
According to the NMWA, the Commission is responsible for annually reviewing the national minimum wage and recommending adjustments; investigating and reporting to the Minister on the impact of the national minimum wage on the economy, collective bargaining, and the reduction of income differentials, and making such information available to the public.
IOL