Fin24 reports that seasonally adjusted real take home pay of South Africans averaged R13,894 in June 2017, slightly higher than May’s average of R13,802. This was shown by the latest BankservAfrica Economic Transaction Index (BETI) released on Wednesday.
South Africans’ real take-home pay increased by 1.3% in June - the highest increase in 15 months. This was the fourth consecutive month it increased. The BankservAfrica Disposable Salary Index (BDSI) indicated that slower inflation increases and faster nominal wage growth helped formal sector wage earners gain higher real increases. As such, South African formal sector workers paid via the South African payments system are better off than a year ago. Economist Mike Schüssler commented that disposable salary increases in nominal terms have not changed that much, but in real terms they are starting to change as inflation is coming down. In his view, that is one of the reasons for better retail sales, although this shift has not been enough yet to get consumers to spend on again big ticket items like cars, televisions and property .
- Read this report by Carin Smith in full at Fin24
- Read too, Your take-home salary increased over the last four months, at The Citizen
- And also, This is the average take-home pay in South Africa right now, at BusinessTech
Get other news reports at the SA Labour News home page