Government salaries are the primary driver of take-home pay increases according to BankServAfrica observed in its monthly monitoring of its Take-home Pay Index.
The organisation says that real take-home pay increased by 2.6 percent for the year to May.
However, it says most of the private sector couldn’t afford increments more than one percent higher than inflation due to weak economic conditions.
Real take-home pay averaged R13,990 rand in May. This is an increase of 7.2 percent from a year ago.
The average formal sector employee with a bank account received R15,300 before taking inflation into account.
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Source: IOL
