The average monthly earnings of South African employees increased by 2.5%, according to the Quarterly Employment Statistics (QES) for June 2024 by StatsSA.
The average monthly earnings paid to employees for June 2024 is R27,450 which is a 2.5% increase from R26,783 in March 2024. Year-on-year average monthly earnings paid to employees rose by 4.8% between May 2023 and May 2024.
From March 2024 to June 2024, basic salary/wages paid to employees by 2.6% or R21.8 billion from R848.0 billion to R869.7 billion.
This was mostly due to an increase in various industries including: Community services, Business services, Trade, Manufacturing, Transport, Construction and Mining.
However, there was a decrease in salaries for the Electricity industry.
Year-on-year, between June 2023 and June 2024 basic salary/wages increased by R36.8 billion or 4.4%.
Bonuses paid to employees declined by R27.5 billion or 34% from R81.5 billion in March 2024 to R54 billion in June 2024.
This was largely due to a decrease in the following industries: Business services, Community services, Manufacturing and Electricity, but there was an increase in bonuses for the following industries: Trade, Transport and Construction.
The year-on-year bonus payments dropped by R3.2 billion (5.7%) between June 2023 and June 2024.
From March 2024 to June 2024, overtime paid to employees increase by R1.2 billion or 4.2% from R27.5 billion to R28.7 billion.
For the Community Services, Business Services, Construction, Manufacturing, Trade and Electricity there was an increase overtime pay.
However, there was a decline in the Transport industry.
Between June 2023 and June 2024, overtime payments increased by R1.8 billion or 6.9%.
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