This is the average salary in South Africa right now

Stats SA has published the latest Quarterly Employment Survey results for the fourth quarter of the 2023/24 financial year.

The statistics body said the average monthly earnings increased by 1.6% from R26,471 in August 2023 to R26,894 in November.

On a year-to-year basis, the average monthly earnings paid to employees in the formal non-agricultural sector increased by 2.3% from R26,298 in November 2022.

Stats SA said that the basic salary/wages paid to employees jumped by +0.9% from R849.5 billion in September 2023 to R857.4 billion in December 2023, while total gross earnings paid to employees increased by 5,8% from R941.3 billion to R995.6 billion.

Basic salaries and wages increased in the trade, business services, manufacturing, construction, transport, mining, and electricity industries, while they decreased substantially in community services.

Basic salary/wages jumped by R44 billion (5.4%) year-on-year between December 2022 and December 2023, while ross earnings increased by R42 billion (4.4%) year-on-year between December 2022 and December 2023.

Employee bonuses jumped by R45 billion (69%) from R65.2 billion in September 2023 to R110.2 billion in December 2023 due to increases in the trade, manufacturing, community services, construction, transport, business services, and electricity industries.

That said, bonus payments decreased by R5.2 billion (-4.5%) year-on-year between December 2022 and December 2023.

Overtime paid to employees increased by R1.6 billion (6.1%) from R26.7 billion in September 2023 to R28.4 billion in December 2023.

Unlike bonus payments, overtime payments increased by R3.6 billion (14.5%) year-on-year between December 2022 and December 2023.

Employment stats

Despite the increase in basic salaries, the report showed that total employment decreased by 194,000 (-1,8%) quarter-on-quarter, from 10,899,000 in September 2023 to 10,705,000 in December 2023.

This was primarily due to decreases in the community services (-6.8%), construction (-3.1%), business services (-0.5%), manufacturing (-0.5%), and mining (-0.2%) industries.

However, on a year-to-year basis, total employment increased by 98,000 (0.9%)

Full-time employment increased by 12,000 (0.1%) year-on-year between December 2022 and December 2023, while part-time employment also increased by 86,000 (7.6%).

This was primarily due to gains in the trade and community services industries.

On a quarter-on-quarter basis, full-time employment decreased by 5,000 (-0.1%), while part-time employment dropped by 189,000 (-13.5%).

Declines in community services and manufacturing were the main industries responsible for the quarterly decline.

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