Post by cjm on Feb 9, 2017 6:11:24 GMT
National minimum wage is a victory for us - Cosatu
So the cycle begins:
1. Wages go up.
2. Employment goes down.
3. Businesses fold.
4. Prices go up.
5. Inflation goes up.
6. Reserve Bank increases interest rate to counter inflation
7. More businesses fold.
8. People cannot make ends meet with minimum wage.
9. Minimum wage increased.
10. Back to 1
So the cycle begins:
1. Wages go up.
2. Employment goes down.
3. Businesses fold.
4. Prices go up.
5. Inflation goes up.
6. Reserve Bank increases interest rate to counter inflation
7. More businesses fold.
8. People cannot make ends meet with minimum wage.
9. Minimum wage increased.
10. Back to 1