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Posted by on Mar 24, 2016 in News & Media | 0 comments

How much money the average person in South Africa gets paid

How much money the average person in South Africa gets paid

 How much money the average person in South Africa gets paid

This amounts to an annual salary of R210,204.

According to StasSA, the average monthly earnings showed a quarter-on-quarter increase of 0.7% in monthly earnings paid to employees, from R17,392 in August 2015 to R17,517 in November 2015.

On an annual basis, average monthly earnings paid to employees increased by 6.7% from R16,424 in November 2014 to R17,517 in November 2015, the research organisation said.

Data published earlier in March in the BankservAfrica Disposable Salary Index (BDSI) showed that South Africans working in the formal sector took home far more money in February, than they did a year ago.

According to the data seen passing through the BankservAfrica payment system last month, the average take-home pay in the formal sector increased by 8.7% compared to the same month in 2015.

“This means that, despite the inflationary increase, take-home pay also rose by about 2.3% above the inflation rate to an average of R13,511 in January 2016,” said Dr Caroline Belrose, Head of Knowledge and Risk Services at BankservAfrica.

Read: Average bonus pay in South Africa in 2015

Quarterly employment statistics showed that employment increased by 43,000 quarter-on-quarter, from 8.949 million in September 2015 to 8.992 million in December 2015.

This was largely due to increases in the following industries: trade (42,000 or 2,3%); business services (16,000 or 0.8%) and community services (13,000 or 0.5%).

There were decreases reported by the following industries: mining and quarrying (-14,000 or -2.9%); construction (-8,000 or -1,7%);  manufacturing (-4 000 or -0.4%); and transport (-2,000 or -0.5%).

Source:My Broadband Newsletter