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earningsIndependent News reports that South African salaried workers are expected to receive only a 1% real increase in salary in the current year, among the lowest gauged in the Korn Ferry 2019 Global Salary Forecast.  

The workforce is expect to get a 6.5% nominal salary increase, whittled down by inflation considerations to the 1% real gain.  SA’s workers will trail their counterparts in Egypt, Ghana and Nigeria, who are expected to get the highest nominal increases of more than 10%.  Real salary growth is predicted in Ghana, Morocco, Mozambique and Tunisia.  The report notes that although top-line salaries will increase by 7.7% in Africa, high inflation will mean the real increase will only be 0.9%.  For example, in Egypt, on average salaries are expected to increase by 15%, but a 14.4% inflation rate means employees will only see a 0.6% real-wage increase.  The Korn Ferry forecast reveals that real-wage salaries globally are expected to grow only an average of 1% in 2019, down from a 1.5% prediction for 2018.

  • This short report by Banele Ginindza appeared on page 17 of The Star of 18 January 2019

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