Take-home payments drop in December - index
By Given Majola
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DURBAN - THE LATEST data from the BankservAfrica Take home Pay Index (BTPI) yesterday showed a steep decline in the number of take-home payments, which had adjusted the average South African salary by a few percentage points
The number of take-home payments processed in December increased while the number of employees declined.
“The real average take-home pay increased by 2.1 percent year-on-year,” said Shergeran Naidoo, BankservAfrica’s head of Stakeholder Engagements. “The reason behind this is not positive. The average salary rose as a result of the decline in the number of lower paid earners that led to a 5.4 percent nominal increase. The total take-home pay in real terms declined by 2 percent year-on-year.”