{"id":362122,"date":"2019-12-12T15:57:36","date_gmt":"2019-12-12T13:57:36","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=362122"},"modified":"2019-12-12T15:57:36","modified_gmt":"2019-12-12T13:57:36","slug":"this-is-the-average-salary-in-south-africa-right-now-3","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/362122\/this-is-the-average-salary-in-south-africa-right-now-3\/","title":{"rendered":"This is the average salary in South Africa right now"},"content":{"rendered":"

Stats SA has published the latest Quarterly Employment Survey (QES) for Q3 2019, showing what workers are getting paid across the various sectors in the country.<\/p>\n

The data shows that the average monthly earnings paid to employees in the formal, non-agricultural sector was up slightly quarter to quarter (2.6%), while showing an annual increase of 3.7%.<\/p>\n

The average worker is paid\u00a0R21,966 per month<\/strong>\u00a0 \u2013 up from the R21,414 recorded at the end of Q2, and up from R20,433 recorded in the same period in 2018.<\/p>\n

This equates to approximately\u00a0R263,592 per year<\/strong>.<\/p>\n

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

The country’s formal sector lost 28,000 jobs in Q3:2019 compared to Q2:2019, Stats SA said, noting 10.142 million employed at the end of the quarter, compared to 10.17 million in the previous quarter.<\/p>\n

This represents a decline of 0.3% q\/q, however it is 0.8% more than the same time in 2018 (or an addition of 78,000 over Q3 last year).<\/p>\n

Job losses were seen in construction (-12,000); manufacturing (-12,000); community services (-11,000); business services (-9,000); and transport (-1,000) in Q3.<\/p>\n

Gains were only made in trade (+17,000), with electricity and mining flat.<\/p>\n

Take-home pay<\/strong><\/p>\n

BankservAfrica recently published its Take Home Pay Index, showing how much money the average South African takes home after tax.<\/p>\n

South Africa\u2019s take-home pay for October increased the most in two years and reached new highs in value, the group said.<\/p>\n

This index measures wages that are transferred to employee bank accounts.<\/p>\n

\u201cTake-home pay reflected a high nominal increase of 7.2% on a year-on-year basis and reached\u00a0R16,173<\/strong>. This is the first-time average take-home pay reached the R16,000 level,\u201d said Shergeran Naidoo, head of Stakeholder Engagements at BankservAfrica.<\/p>\n

\u201cIn real-terms, the BTPI increased by 3% year-on-year owing to slightly fewer actual payments, particularly in the lower end of monthly take-home pay.<\/p>\n

\u201cThe average real-time payment was R14,300, the third-highest level ever recorded by BankservAfrica.\u201d<\/p>\n

Naidoo said that the above-average rises in take-home pay in October were on the back of consumer price inflation (CPI) dropping to its lowest levels in eight years.<\/p>\n

Unemployment rises<\/strong><\/p>\n

Despite the increase in pay and take-home pay, the data comes as South Africa sits in its worst unemployment context in almost two decades.<\/p>\n

According to Stats SA’s Quarterly Labour Force Survey, South Africa\u2019s unemployment rate again climbed in the third quarter of 2019, to 29.1% \u2013 its highest rate in over 16 years.<\/p>\n

The country\u2019s unemployment rate last reached 28% in 2003.<\/p>\n

The expanded unemployment rate is at 38.5%, unchanged from before, StatsSA said.<\/p>\n

\n

Read: Bonus and salary increases at the end of 2019 \u2013 this is what top South African professionals expect<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Stats SA has published the latest Quarterly Employment Survey (QES) for Q3 2019, showing what workers are getting paid across the various sectors in the country.<\/p>\n","protected":false},"author":10,"featured_media":144519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26],"class_list":["post-362122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/362122","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=362122"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/362122\/revisions"}],"predecessor-version":[{"id":362166,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/362122\/revisions\/362166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/144519"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=362122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=362122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=362122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}