August salaries perk up but finances likely to remain strained
August salaries are still below the February high of R15,614, but 2.3% jump on July’s figure suggests average nominal salaries have stabilised
28 September 2022 - 17:29
Despite a tough month of lingering power supply issues, higher inflation and rising interest rates, salaries in August improved marginally following the removal of Covid-19 restrictions on gatherings, which improved much-needed support to the local economy.
BankservAfrica, an automated clearing house which acts as a transactional link between many major payment institutions, released its latest BankservAfrica take-home pay index (BTPI) on Wednesday, which showed that SA take-home pay after deductions recovered slightly to R14,688 in August compared to R14,360 in the previous month...
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