ICONOCLAST

Thursday, 30 October 2008

It's Not All Bad News!

According to SAARF's new lifestyle measures:

We Are Far Better Off 14 Years Later
14 Oct 2008

The statement that the gap between rich and poor is increasing is poppycock. The average South African household income has risen from R2435 in 1994 to R6537 per month.

This is a staggering 264% and nearly 20% increase per year. And low and behold it is not the super rich that are pulling the averages up, it is the middle segment LSM 5 to LSM 9 that has increased.

In fact the percentage of the population in the LSM 1 -4 segment has decreased with a whopping 32% since 2001. This is a spectacular narrowing of the gap between rich and poor.

LSM 4 has increased but the significant drop is in the LSM 1-3 segments while LSM 10 has remained the same. 78% of the population are in the LSM 4- 10 groups, and 22% in the LSM 1-3 group. In 1993 the LSM 1-3 group represented over 40% of the population.

For more detail visit www.saarf.co.za