South African workers can be happy because their average monthly wages have gone up a lot since 2024. The average salary went up to R27,450 in June 2024, up 2.5% from March and 4.8% from the previous year.
During tough economic times, this increase in wages, especially in key areas like industry, business services, and community services, is very welcome. While unemployment is still high and inflation worries are still present, the rise in pay provides safety for workers and a sign of better times ahead for the economy as a whole.
StatsSA’s most recent Quarterly Employment Statistics (QES) show that South Africans’ average monthly pay have been going up steadily. Lots of people are glad to see this growth, especially since the economy is still tough for most people in the area.
Increase in Average Monthly Salary
South Africa’s average monthly salary has gone up from R26,783 in March 2024 to R27,450 in June 2024. It’s a 2.5% rise from the last quarter, which shows steady progress. Each year, from May 2023 to May 2024, the average earnings have gone up by 4.8%. While inflation is still a worry, these pay raises are good news for many working people across the country.
| Month/Year | Average Monthly Salary (ZAR) |
|---|---|
| March 2024 | R26,783 |
| June 2024 | R27,450 |
| Year-on-Year Growth | 4.8% |
Sectors Contributing to Salary Growth
Earnings have gone up a lot in a number of economic areas, which has helped raise average monthly pay overall. According to StatsSA, workers were paid an extra R21.8 billion in the last quarter, bringing the total amount of money they got paid from R848 billion to R869.7 billion. These are the areas that have seen the most progress:
| Sector | Salary Growth (Quarterly) |
|---|---|
| Community Services | Significant |
| Business Services | Moderate |
| Trade | Moderate |
| Manufacturing | Considerable |
| Transport | Notable |
| Construction | Noticeable |
| Mining | Steady |
These industries have been very important in raising the national average, which has helped many South Africans with their finances.
Employee Bonuses and Overtime
Basic pay have gone up, but perks have gone down a lot. The bonuses that employees got went down from R81.5 billion in March 2024 to R54 billion in June 2024, a 34% drop. This drop in bonuses is because bonus payments tend to be seasonal, happening around the end of the year.
Meanwhile, between March and June 2024, extra pay went up. The total amount of overtime payments went up by R1.2 billion, or 4.2%, to R28.7 billion. The fact that overtime pay went up by R1.8 billion (6.9%) year over year shows that South Africans are ready to work extra hours to make extra money. This strength shows how determined the workforce is to deal with money problems.
Year-on-Year Comparison and Grant Parity
Average monthly pay have gone up by 4.8% year over year, which is the same amount as the rise in South African Social Security Agency (SASSA) handouts. There is some equality between people who earn money and people who get grants, even though these raises don’t fully keep up with market prices. This helps make the process of helping both people who are working and people who are depending on government aid more fair.
- Salaries (May 2023 to May 2024): 4.8% increase.
- SASSA Grants: 4.8% increase.
Even though this is a small change, it shows that people from different economic levels are becoming more similar, which will help reduce income inequality over time.
Challenges Ahead Despite Positive Trends
Even though the news is good, many South Africans are still facing problems. Many people still have trouble paying their monthly bills, even though average salaries have gone up. This is because high inflation makes the prices of basic goods and services go up.
In addition, the jobless rate is still high, with more than 40% of people who are qualified to work not having jobs. A lot of low- and middle-income families still get most of their money from SASSA handouts.
Some of these problems should be easier to deal with thanks to the African National Congress (ANC)’s Basic Income Grant, which will take the place of the SASSA Social Relief of Distress (SRD) grant by 2026. South Africa’s economic problems, on the other hand, can’t be fixed quickly. They need a wider range of actions, such as more jobs, better working conditions, and help for small businesses.