The salary of the average formally employed non-agricultural worker in South Africa has beaten inflation by over 18% over the past ten years.
The average formally employed non-agricultural salary in South Africa has beaten inflation by roughly R2,700 over the past decade.
However, there is no official definition regarding income, largely because the classification varies depending on the chosen population and the specific countries’ economic status. The Bureau for Economic Research , in its latest report on consumer confidence, considers a household with earnings between R5,000 and R20,000 per month a middle-income household.
Stats SA’s latest Quarterly Employment Statistics showed that the average formal, non-agricultural salary in South Africa is R26,791 per month. The average salary reflects varying increases across all formal sectors, including government and public services, where salary hikes have been notorious for being higher than inflation in the past.Inflation-beating cost-of-living increases have eaten away at any salary gains, which is highlighted in the data showing that middle-class South Africans remain under notable financial strain.
What’s more, credit check data from PayProp revealed that the average disposable income in South Africa has also decreased from 27.2% to 23% of net income compared to a year earlier.
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