Money matters: Are you part of the 1%?

The Southern Africa Labour and Development Research Unit created an income comparison tool to see how income is distributed across South Africa.

One percent of South Africans earn more than R48,753 a month.
Image: Siphiwe Sibeko/Reuters

Only 1% of individuals in South African households earn R48,753 or more per month.

SALDRU said the purpose of the comparison tool is to help people to understand the nature and extent of South Africa’s inequality.

According to SALDRU research, 50% of South Africans are chronically poor. Only 20% of South Africans are part of the stable middle class and only 4% are part of the elite.

Eleven percent belong to the transient poor and 15% belong to the vulnerable middle class. According to SALDRU, lack of social mobility, mainly intergenerational failure and the vulnerable middle class are the reasons why South Africa is one of the most unequal societies.

Chronically poor and vulnerable poor are mostly African as well as coloured people, with white people mostly topping the income chart.

According to the tool, 84% of individuals in South African households have an income of R4,926 or less per month. Fifty-two percent of individuals in South African households earn R1,219 or less a month.

BY ODWA MJO- TimesLIVE

Source: TMG Digital

Leave a Reply