How Much Does the Typical Salary Earner Earn in South Africa Now?

The most recent information on South Africa’s monthly earnings and overall employment numbers was made available by Stats SA.

Figures The most recent Quarterly Employment Statistics report for the fourth quarter of the fiscal year 2023–2024 has been released by South Africa. There are quarterly and annual comparisons of the average wage statistics in the study.

From September 2023 to December 2023, the Republic’s overall employment fell from 10,899 000 to 10,705,000. Decreases in the following industries were the cause of this:

-6.8% for community services
Building: -3.1%
Services for Business: -0.5%
Production: -0.5%
Mining: -0.2%

Nonetheless, there were gains in power (1.6%), transportation (0.4%), and trade (2.4%).

The Average Pay in South Africa

The average monthly pay in South Africa is R26 894, according to the statistics authority. In the period from August 2023 to November 2023, this climbed by 1.6%.

The average monthly salary increased by 2.3% over the previous year.

In Inflation’s Comparison

The annual rate of goods inflation increased from 6.4% in December 2023 to 6.6% in January 2024. In December 2023, services had an increase in inflation from 3.8% to 4.0%.

Crushing the Number of Employees

There has been a 98 000 (0.9%) rise in total employment between December 2022 and December 2023.

A 0.1% increase in full-time employment, or an additional 12 000 jobs, and a 7.6% increase in part-time employment, or an additional 86 000 jobs, were the main drivers of this expansion.

There was a 5,000, or 0.1%, decline in full-time employment from September 2023 to December 2023. This resulted from growth in trade, transportation, and power, but decreases in the mining, manufacturing, community, and business services sectors.

During the same year, part-time employment fell by 189 000, or 13.5%, mostly in the commerce and manufacturing sectors but climbed in community services, business services, construction, and transportation.

Bonuses and Overtime

The bonus statistics from year to year are not encouraging, with a 4.5% decline from December 2022 to December 2023.

On the other hand, overtime payments are a little more promising, increasing by 14.5% on an annual basis between December 2022 and December 2023.