Thursday, September 29, 2016

Wage Drop in South Africa

South African workers took home much smaller disposable salaries in August 2016 than they did in August 2015, as inflation accelerated but growth in wages slowed.

The BankservAfrica disposable salary index, released on Wednesday, shows employees took home 2.5% less in August than a year earlier — the third consecutive month of declines in real disposable salaries. "For the first eight months, real take-home salaries declined by 0.4%," it said.

"While workers received salary increases in nominal terms, the real value for these ended up being lower due to the higher rate of inflation," BankservAfrica head of knowledge and risk services Caroline Belrose said.

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