National minimum wage RAISED to R27.58 an hour

The national minimum wage was RAISED by the government on Friday by 8.5 percent to R27.58 an hour from 1 March 2024.

NATIONAL MINIMUM WAGE HAS BEEN RAISED TO R27.58 AN HOUR

The government gazette stated this wage increase was included for domestic and farm workers.

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According to reports, this is more than three percentage points above the latest annual consumer price inflation rate, which reached 5.1% in December.

THE NEW MINIMUM WAGE EQUALS A MONTHLY PAYMENT OF AROUND R4 413

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This would mean that for those who work eight hours a day for 20 days a month, the new minimum wage equals a monthly payment of around R4 413.

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Workers employed on an expanded public works programme are entitled to a minimum wage of R15.16 per hour.

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A minimum wage is the lowest remuneration employers can legally pay their employees for each ordinary hour worked. It is illegal for an employer to pay employees less than this minimum floor.

Factors considered by the The National Minimum Wage (NMW) Commission  in the annual adjustment include:

• Inflation;
• The cost of living and the need to retain the value of the minimum wage;
• Wage levels and collective bargaining outcomes;
• Gross Domestic Product (GDP);
• The ability of employers to carry on their businesses successfully;
• The operation of small, medium or micro-enterprises and new enterprises; and
• The impact on employment or the creation of jobs.

Cosatu’s Matthew Parks says this will benefit over six million workers, which will have a positive boost to the economy.

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