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The Citizen reports that salaries stabilised in June after three months of decline, supported by a favourable inflation environment and an anticipated interest rate cut on Thursday. But, external factors are still expected to weigh on future earnings and unemployment levels.
Take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June after three months of decline. “The nominal average take-home pay was R17,310 in June, showing a marginal 0.1% decline on May’s R17,325. However, this was still notably above the R15,514 level of a year ago,” BankservAfrica’s Shergeran Naidoo indicated. Real take-home pay, adjusted for inflation, moderated marginally by 0.2% to R14,804 in June, compared to R14,827 in May, but was also still notably up on levelsa year ago. Economist Elize Kruger commented: “With inflation forecast to average 3.5% in 2025 unlike the 4.4% in 2024 and the broader industry suggesting an average salary increase above 5%, 2025 will be the second consecutive year of a real increase in earnings.” However, Kruger pointed out that the general economic environment had deteriorated in recent months, with downward revisions to growth prospects locally and globally and high levels of uncertainty. “This could affect employment levels and earnings in the coming months, in an economy with an already high unemployment rate of 32.9%,” she warned.
- Read the full original of the report in the above regard by Ina Opperman at The Citizen
- Read too, SA’s average take-home pay steadied in June but economic uncertainty casts a shadow, at BusinessLive (subscriber access only)
Get other news reports at the SA LabourNews home page