SA middle class getting poorer

[rpm]

SA middle class getting poorer

Despite an increase in the number of people in South Africa's middle class, it's share of the country’s income has declined according to new research.

 

[Fudzy]

Worst. Tables. Ever.

 

[Lightscribe]

The number of black middle class families doubled between 1993 and 2008, while the number of white middle class families decreased over the period.

This shows that the middle class landscape has shifted from a white majority in 1993 to a black majority in 2008 – heralding the “rise of the black middle class” in South Africa.

An article I've bookmarked months ago, for a thread like this:

Black middle class packs a punch
Apr 28 2013

Cape Town - The spending power of South Africa's black middle class has surpassed that of their white counterparts by R80bn, according to the UCT Unilever Institute of Strategic Marketing.

The rising black middle class has about R400bn to spend compared to the R320bn from the country's white middle class, according to the institute, who will be releasing its latest study.

"We could never have predicted that black middle class spending would have skyrocketed to a staggering R420 billion per annum – substantially outstripping white middle class spending power," Unilever stated on its website.

It added that the Black Middle Class doubled in size to 4.2 million from 1.7 million 2003.

The adult population of the white middle class has grown to to 3 million last year from 2.8 million in 2004, reported Business Day.

The institute noted that the study, entitled 4 Million and Rising, offers interesting insights and exposes a vastly transformed consumer segment.

“There’s a huge commitment to go to university. This group sees education as the stepping stone to everything,” Unilever Institute director, Professor John Simpson was quoted by the newspaper.

http://www.fin24.com/Economy/Black-middle-class-packs-a-punch-20130428

 

[HavocXphere]

Yes inequality has been increasing for a while now (as per gini coefficient).

Given the flood of tenderpreneurs vs the poor barely having drinkable water this is hardly surprising though.

Worried about the middle class though. Effectively the middle class powers the country, but in GDP output and in tax contributions. I just hope the fools in power realize soon that the middle class is close to breaking point already...you can't make a taxpayer carry 6+ other non-taxpayers and think thats sustainable. Given the eTolling and similar bullsht its clear that that realization hasn't quite reach our chief chops in charge though.

 

[OGroteKoning]

There is something seriously wrong with their definition of middle class... R5600 for a family of 4? Should it not rather be R15600? Who decides these things?

 

[TheGuy]

There is something seriously wrong with their definition of middle class... R5600 for a family of 4? Should it not rather be R15600? Who decides these things?

They explain in the line below. But R40000 is also not a lot This means most People i know is upper class

 

[murraybiscuit]

An article I've bookmarked months ago, for a thread like this:

Interesting. Unilever may be interested in spending power. I'm more interested in investment behaviour. How do we know that the added income is being used wisely? Banking trends may be more interesting in this regard. How much of the nouveau riche consumption is fueled by debt?

 

[TJ99]

Are they saying people earning over R40k per month are "upper class"??? Who came up with this list?

That means anyone that can afford a reasonably small house is upper class! El oh el.

 

[Necuno]

Are they saying people earning over R40k per month are "upper class"??? Who came up with this list?

That means anyone that can afford a reasonably small house is upper class! El oh el.

Because those are the whites with the 5x german cars in their garages :erm:

 

[akescpt]

The middle class has been fsucked for a while now. Doesn't look like the government is interested in lightening the load. Living costs are skyrocketing. This is one of the first years I'm afraid that my increase won't even come close to the increase in expenses I have seen across the board during the year.

 

[TJ99]

Because those are the whites with the 5x german cars in their garages :erm:

With that income, you could barely afford one garage, never mind 5. Maybe one car to go in it.

 

[ISP cash cow]

Worst. Tables. Ever.

Agreed. the article claims >R40k is upper class (which in my opinion is not high to deem as upper class) however the table shows upper class is determined from >R10K. the second table (income share by group) shows that middle class is between R1400.00 and R1399.00 :wtf: (backwards nogal ). Do people not check their work before they post "supposingly" factual information?

 

[Fudzy]

Agreed. the article claims >R40k is upper class (which in my opinion is not high to deem as upper class) however the table shows upper class is determined from >R10K. the second table (income share by group) shows that middle class is between R1400.00 and R1399.00 :wtf: (backwards nogal ). Do people not check their work before they post "supposingly" factual information?

I also wonder why it only goes up to 2008 when we're in 2013, two years after a more recent census.

 

[Aquila ka Hecate]

No amount of earned income will make anyone upper class. If you work for a living and were not born into the right family, you can never be other than one of the middle classes.
Bloody bollocks that it is.

 

[ISP cash cow]

I also wonder why it only goes up to 2008 when we're in 2013, two years after a more recent census.

Lol did not even pick up on the dates , I was too confused by the data being shown

 

[w1z4rd]

There is something seriously wrong with their definition of middle class... R5600 for a family of 4? Should it not rather be R15600? Who decides these things?

They explain in the line below. But R40000 is also not a lot This means most People i know is upper class

Many South Africans are so sheltered from the reality, that its very hard for them to conceptualize how well off they actually are in relation to the rest of the population.

 

[Fudzy]

Many South Africans are so sheltered from the reality, that its very hard for them to concepulize how well off they actually are in relation to the rest of the population.

Wut?

 

[w1z4rd]

Wut?

Fixed

 

[grok]

Yes inequality has been increasing for a while now (as per gini coefficient).

Given the flood of tenderpreneurs vs the poor barely having drinkable water this is hardly surprising though.

Worried about the middle class though. Effectively the middle class powers the country, but in GDP output and in tax contributions. I just hope the fools in power realize soon that the middle class is close to breaking point already...you can't make a taxpayer carry 6+ other non-taxpayers and think thats sustainable. Given the eTolling and similar bullsht its clear that that realization hasn't quite reach our chief chops in charge though.

Do you really think Zuma & co lies awake at night worrying about crap like this? Seriously?