The average salary earnings in South Africa shot up in the third quarter (Q3) of 2024, increasing from R27,511 in May 2024 to R28,220 in August 2024.
This represented 2,6% growth quarter-on-quarter and 6,6% growth compared to last year. Statistics South Africa (Stats SA) recorded this growth in their Quarterly Employment Statistics survey for Q3 of 2024.
“Basic salaries and wages rose by 0,8% (R6,7 billion) in September 2024, reaching R878,2 billion. This growth was mainly due to increases in trade, mining, manufacturing, business services, construction, electricity and transport. However, the community services industry experienced a decline,” Stats SA said.
SA’s total employment
The body found that South Africa’s total employment in the formal non-agricultural sector decreased by 133,000 in Q3, bringing the level of employment to 10,6 million.
According to the survey, 294,000 jobs were lost between September 2023 and September 2024.
Stats SA said that 131,000 jobs were lost in the community services industry and 15,000 jobs were lost in the business services industry.
The manufacturing industry lost 4,000 jobs, according to the body.
The Transport and mining industries lost 3,000 and 2,000 jobs respectively and the electricity industry lost 1,000 jobs.
Stats SA said that despite the overall decline in employment, the trade and construction industries saw increases of 19,000 and 4,000 jobs, respectively.
Full-time employment in SA decreased by 14,000 jobs, falling from 9,468,000 in the second quarter (Q2) of 2024 to 9,454,000 in Q3 of 2024.
IOL BUSINESS