Take-home pay data shows SA has hit the unemployment iceberg
25 June 2020 - 19:36
In one of the first concrete signs of the unemployment bloodbath due to the Covid-19 lockdown, data from the national payments system shows a decline of more than 13% in May in the number of people receiving salaries and wages in comparison with a year ago.
Data provided by Bankserv Africa measures the actual take-home pay, net of deductions including income tax and retirement savings contributions, and represents the actual amount transferred into employees’ bank accounts. The data does not measure transfers between employers and employees that use the same bank. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.