{"id":763573,"date":"2024-03-26T15:05:28","date_gmt":"2024-03-26T13:05:28","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=763573"},"modified":"2024-03-26T15:05:35","modified_gmt":"2024-03-26T13:05:35","slug":"this-is-the-average-salary-in-south-africa-right-now-11","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/763573\/this-is-the-average-salary-in-south-africa-right-now-11\/","title":{"rendered":"This is the average salary in South Africa right now"},"content":{"rendered":"\n

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

The statistics body said the average monthly earnings increased by 1.6% from R26,471 in August 2023 to R26,894 in November. <\/strong><\/p>\n\n\n\n

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.<\/p>\n\n\n

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Source: Stats SA<\/figcaption><\/figure><\/div>\n\n\n

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.<\/p>\n\n\n\n

Basic salaries and wages increased in the trade, business services, manufacturing, construction, transport, mining, and electricity industries, while they decreased substantially in community services. <\/p>\n\n\n

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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.<\/p>\n\n\n\n

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. <\/p>\n\n\n\n

That said, bonus payments decreased by R5.2 billion (-4.5%) year-on-year between December 2022 and December 2023.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Unlike bonus payments, overtime payments increased by R3.6 billion (14.5%) year-on-year between December 2022 and December 2023.<\/p>\n\n\n

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Source: Stats SA<\/figcaption><\/figure><\/div>\n\n\n

Employment stats <\/strong><\/p>\n\n\n\n

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. <\/p>\n\n\n

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\"\"<\/a><\/figure><\/div>\n\n\n

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. <\/p>\n\n\n\n

However, on a year-to-year basis, total employment increased by 98,000 (0.9%)<\/p>\n\n\n\n

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%). <\/p>\n\n\n\n

This was primarily due to gains in the trade and community services industries. <\/p>\n\n\n\n

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%).<\/p>\n\n\n\n

Declines in community services and manufacturing were the main industries responsible for the quarterly decline. <\/p>\n\n\n

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Source: Stats SA<\/figcaption><\/figure><\/div>\n\n
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Source: Stats SA<\/figcaption><\/figure><\/div>\n\n\n
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Read: Standard Bank secures R5.7 billion for renewables and affordable housing in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Although salaries are on the up in South Africa, unemployment in the formal non-agricultural sector has worsened.<\/p>\n","protected":false},"author":95,"featured_media":682055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,1809],"class_list":["post-763573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-stats-sa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/763573","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\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=763573"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/763573\/revisions"}],"predecessor-version":[{"id":763629,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/763573\/revisions\/763629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/682055"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=763573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=763573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=763573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}