SA wage hikes of over 8 pct unsustainable: Marcus

JOHANNESBURG (Reuters) – South Africa’s struggling economy cannot sustain current wage settlements of around 8 percent, which are also a threat to jobs, Reserve Bank Governor Gill Marcus said on Thursday.

“Settlements tend to be around 8 percent, that’s still too high if you are looking at sustainability. One of the consequences that I think is of great concern is … increased unemployment,” Marcus said during an interview on a private radio station.

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