TAKE-HOME PAY AT ITS HIGHEST IN TWO YEARS

SOUTH Africa’s take-home pay for October increased the most in two years and reached new highs in value, according to the latest BankservAfrica Take-home Pay Index (BTPI). “Take-home pay reflected a high nominal increase of 7.2 percent on a year-on-year basis and reached R16 173. This is the first-time average take-home pay reached the R16 000 level,” said Shergeran Naidoo, the head of stakeholder engagements at BankservAfrica. “In real terms, the BTPI increased by 3 percent year-on-year owing to slightly fewer actual payments, particularly in the lower end of monthly take-home pay. The average real-time payment was R14 300, the third-highest level recorded by BankservAfrica.” Mike Schüssler, chief economist at economists. co.za, said: “The above-average rises in take-home pay in October were on the back of consumer price inflation dropping to its lowest levels in eight years.”

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