Many graduates with degrees and people with matric are excluded from economic activity, says Unisa professor
Even though SA households are trying to improve their circumstances by getting more educated, their living conditions are deteriorating as a result of smaller salary increases and higher personal income taxes.
Of all five pillars measured, living conditions deteriorated the most from 7.4 points in 2017 to 6.9 index points in 2018. “Based on those five things, we found that only 25% of households in South Africa can be classified as financially well,” said Unisa professor Bernadene de Clercq. “While personal incomes have been stagnating, people with matric and tertiary education have increased tremendously. But what we are seeing is that a lot of graduates with degrees are doing work for non-degreed people. There are lots of graduates with degrees that don’t help them and there are lots of people with matric that are excluded from economic activity. And that speaks to the quality of our education,” said Van Aardt.
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