ECONOMY

SA second in wage inequality

NEWS

May 27 th, 2015

South Africa -SA is the second most unequal country in the world regarding population income, according to report published on 25 May by Boston Consulting Group. Over 50% of South Africans live under the poverty line. With an annual GDP of $366bn in 2013, the country is nevertheless the second power in Africa and thirty-forth worldwide. The phenomenon is due to the low conversion of the country’s wealth into welfare. SA is placed 138th in 149 countries by particularly measuring wages, economic stability, payment equality, education and employment. A national development scheme has been implemented to decrease unemployment to 14% in 2020 by reforming the labour market and the quality and numbers of SA teachers.


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