Wages in South Africa
The South African economy recorded average wage growth of 5.4% in the decade to 2022, in contrast, wage growth in 2022 was 3.8%.
South Africa Wages Chart
Note: This chart displays Wages (ann. var. %) for South Africa from 2013 to 2023.
Source: Macrobond.
South Africa Wages Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Wages (ann. var. %) | 4.0 | 0.7 | 7.4 | 4.0 | 4.5 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects South African wages projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable wages forecast available for South African wages.
Download one of our sample reports to visualize what a Consensus Forecast is and see our South African wages projections.
Want to get access to the full dataset of South African wages forecasts? Send an email to info@focus-economics.com.