JOHANNESBURG - South African salary earners are feeling the pinch as rising inflation and economic uncertainty continue to squeeze household finances.
The latest PayInc Net Salary Index shows the average nominal net salary declined to just over 21-thousand rand in April down from March and lower than a year ago.
Economists say the fallout from the Middle East conflict, rising fuel prices and slowing economic growth are already putting pressure on businesses and workers alike.
In real terms, after inflation, salaries have dropped to their lowest level in two years.
Inflation rose to four percent in April and could climb even higher in May, increasing fears of a possible interest rate hike by the South African Reserve Bank later this week.
Meanwhile, unemployment has also worsened,
rising to thirty-two-point-seven percent in the first quarter of the year.