The Disposable Salaries Index (BDSI) from BankservAfrica has revealed the average salary in South Africa for the month of July.
And keeping in mind that it has a craving for everything is going to damnation in a pushcart with the economy – with garbage status and so forth – compensations are developing at the speediest rate since 2015.
The index showed that the average disposable salary recorded in July was at R14,154, up from R13,894 in June.
Market analysts say that the expansion in discretionary cashflow is additionally reflected in retail deals. Auto deals are never again declining either.
Salaries growing despite junk status
According to the report, for the fifth consecutive month in a row, average disposable salaries increased faster than the rate of inflation. This all despite the country recently being slapped with a double downgrade.
Where are the biggest salary increases seen?
The majority of increases were in the middle and lower end of the salary distribution. This increase is the highest since July 2013, according to Bankserv.
The real median salary is at an all-time high at R10,680 per month while the average salary is still below the high in real terms of October 2015.
“The fact that the average disposable salary is still below the average take-home pay levels of the end of 2015 and beginning of 2016 is the biggest reason that people feel ‘poorer’. The average salaries have not yet caught up to the highs of 18 months ago. Therefore, many employees are feeling less well off,” the group said.