The latest BankservAfrica salary data suggests that the job market is stabilising and although salaries increased slightly in February, they are still lower than a year ago. Employment
December 2022 Quarterly Employment Statistics
“With little indication of a notably different economic environment in 2023, but rather even lower economic growth for 2023 compared to 2022, the job market is likely to remain lacklustre. Furthermore, consumer inflation has been moderating rather slowly, resulting in the ongoing erosion of the purchasing power of households,” says Kruger.reached a 13-year high of 6.9% in 2022 and is forecast to average around 5.8% in 2023.
The BankservAfrica Private Pensions Index remained flat compared to the previous month at R10 054, 6.2% higher than a year earlier and slightly above the monthly average in 2022, which realised at R9 985, according to Naidoo. Total employment decreased by 94 000 or -0.9% between December 2021 and December 2022, while full-time employment increased by 6 000 or 0.1% from 8 865 000 in September to 8 871 000 in December 2022.
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