TAKE-HOME PAY
Workers are getting poorer as pay packages shrink
A lag in salary increments compared to inflation has given rise to a notable erosion of South Africans’ purchasing power
25 January 2023 - 19:23
UPDATED 26 January 2023 - 16:04
SA’s average take-home pay shrunk in December, even without taking into account the effect of inflation on purchasing power.
BankservAfrica, the largest automated payments clearing house in Africa, released its BankservAfrica take-home pay index on Wednesday, which shows that average nominal take-home pay slipped in the month to R14,663, which is 4.8% lower than the previous year when the average nominal take-home pay was R15,403...
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