{"id":219897,"date":"2018-01-18T13:04:08","date_gmt":"2018-01-18T11:04:08","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=219897"},"modified":"2018-01-18T13:04:08","modified_gmt":"2018-01-18T11:04:08","slug":"this-one-graph-shows-how-the-average-salary-has-changed-in-south-africa-over-the-past-70-years","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/219897\/this-one-graph-shows-how-the-average-salary-has-changed-in-south-africa-over-the-past-70-years\/","title":{"rendered":"This one graph shows how the average salary has changed in South Africa over the past 70 years"},"content":{"rendered":"

The World Wealth and Income Database has updated South Africa\u2019s profile, showing how the average salary in the country has changed since 1946, and up to 2016.<\/p>\n

The online data sets use national accounts, survey data, fiscal data and wealth rankings, and were created by economists Thomas Piketty, Emmanuel Saez and a team of more than 100 researchers from 70 countries.<\/p>\n

A previous update<\/a><\/strong> to the data showed that South Africa had one of the highest rates of wealth inequality in the world, where the country’s wealth became more concentrated among the top 1% and 10% of earners over time.<\/p>\n

According to the WWID, by 2012, as much as 20% of South Africa’s total wealth was held by 1% of the wealthiest people – while 65% of the country’s wealth was concentrated among the top 10%.<\/p>\n

Changing salaries<\/strong><\/p>\n

The latest update to the dataset brings salary changes over the last 70 years to 2016 into focus, as well as the share of GDP among adults.<\/p>\n

At 2016 prices, the average South African earned only R108,313 a year, while GDP share is at R126,348.<\/p>\n

Salary levels have settled around the same numbers seen in the late 70s and early 80s. South Africa’s peak average was in 1974, where it reached over R122,000 a year – while the country’s GDP share peaked in 1980, when it reached R141,650.<\/p>\n

\"\"<\/a><\/p>\n

Stats SA pegged South Africa’s average annual income at\u00a0R138,168 per adult over the same period, though this is the level between\u00a0male-headed households had an average income of R165,853 per annum and R98,911 for female-headed households.<\/p>\n

Jobs data by StatsSA for 2016 showed that average monthly earnings paid to employees in the formal non-agricultural sector was at R17,517 per month \u2013 or R210,200 annually.<\/p>\n

Trading economics reflected similar numbers, with the 2016 average monthly income at R17,500 per month.<\/p>\n

\n

Read:\u00a0Zuma approves salary hikes for government officials in 2018<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The World Wealth and Income Database has updated South Africa\u2019s profile, showing how the average salary in the country has changed between 1946 and 2016.<\/p>\n","protected":false},"author":10,"featured_media":205318,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[],"class_list":["post-219897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=219897"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219897\/revisions"}],"predecessor-version":[{"id":219911,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219897\/revisions\/219911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/205318"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=219897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=219897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=219897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}