Average Income in South Africa

BankservAfrica has disclosed the latest take-home pay index, which shows the minimal increase in the take home income of South African at the end of the month. The report showed that take home pay in September increased at a slower pace than August due to backdated government salaries.

The report also shows that there has been a small increase to average take-home pay since September 2013 indicating a sluggish economic environment for the past five years. September showed a year-on-year increase of 2.2%, lower than the year-on-year increase 4.7% of experienced in August 2018.

On average take-home pay was R15,299 in September but in real terms the average take-home pay was R14,256. Take home in real terms has shown an increase for most of 2018 and is expected to continue until the end of 2018. Next year is also forecasted to have increased inflation together with sluggish growth in a lower performing South African economy.

Source: businesstech.co.za

 

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