The the average monthly salary in SA’s formal sector is R26,791 according to StatsSA.
According to Statistics South Africa , the average monthly salary in SA’s formal sector is R26,791 as noted in the body’s Quarterly Labour Force Survey
Additionally, Discovery Bank added in its SpendTrend 2024 report that middle-income South Africans earn between R100,000 and R350,000 a year, which is around R8,000 to R29,000 per month. While looking at the period from January to March of 2024, StatsSA said that there were 8.2 million unemployed South Africans. This number has risen to 8.3 million in the period from April to June 2024.StatsSA noted that 3.6 million South Africans or 35.2% out of 10.3 million young people aged 15 to 24 years were not in employment, education programmes or in training.
Specifically, the researchers found that for people in income brackets above R40,000, debt spending falls sharply, and disposable income rises to match. The data found that 18.1% of tenants were in rent arrears in Q2 of 2024 compared to 18.4% a year earlier.IOL Business spoke to two middle-class South Africans based in Cape Town.Roman Daniel, a candidate attorney based in Observatory said that he earns less than most people think he earns but knows that his salary will increase as he progresses in this vocation.Daniel saidas yet, but hopes in the future to get that as he sees it as a priority.
She acknowledged that medical aid has become a major necessity for her as she embarks on her parenting journey with her husband.
Finance Business Money Matters Salaries
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A look at the R26 million house with a one-of-a-kind dojoA R26 million property overlooking Onrus and Vermont comes with its own Tesla smart system.
Read more »
SAS donates AI education resources to Commonwealth countriesSAS aims to give students and educators in Commonwealth countries access to AI resources.
Read more »
Historical submarine moves to Naval Museum in Simon's TownFormer South African Navy Daphne-class submarine, the SAS Assegaai, was moved from the dockyard to the new annexe of the Naval Museum in Simon's Town, on Thursday.
Read more »
Domains.co.za launches cutting-edge Managed cPanel Hosting solutionThe Managed cPanel Hosting packages feature NVMe storage, which is faster than traditional SAS SSD or SSD options.
Read more »
What would it take to turn National Health Insurance into universal healthcare?The 2019 report of Health Market Inquiry shows that SAs private healthcare overservices its clients, offers variable patient experiences, and varying quality of care. This inquiry goes on to call for regulatory reforms to enhance efficiency, competitiveness, affordability and service quality.
Read more »
Middle-class South Africans take a R7,000 per month hitSouth Africa’s high interest rate and cost of living environment are costing middle-class consumers dearly.
Read more »