Getting government out of the way in the labour market and economy would help living standards
Palma inequality ratio for incomes has declined, while spending power is also more equally distributedStatistics SA has released a comprehensive examination of economic inequality in SA between 2006 and 2015. The essential conclusion of the study is that inequality in SA “is extremely high and has remained so since 1993”.
The study pronounces that “about two-thirds of overall inequality comes from inequality in earnings, and about half of this is due to the extremely high levels of unemployment. In addition to the effect of high unemployment on inequality, the wage distribution among those who are employed also exhibits a very long upper tail, which thus compounds the overall income inequality”.
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