Income Classes In South Africa 2020

A person working in south africa typically earns around 31 100 zar per month.

Income classes in south africa 2020. South africa is the most unequal country in the world measured in terms of both income and wealth. The world bank classifies the world s economies into four income groups high upper middle lower middle and low. An african development bank report categorises the middle class based not on net income but daily consumption. Your daily horoscope for 17 november 2020.

Wages in south africa decreased to 21455 zar month in the second quarter of 2020 from 22387 zar month in the first quarter of 2020. Updated country income classifications for the world bank s 2020 fiscal year are available here. Wages in south africa averaged 14015 98 zar month from 2004 until 2020 reaching an all time high of 22500 zar month in the fourth quarter of 2019 and a record low of 6742 zar month in the first quarter of 2005. Salaries range from 7 880 zar lowest average to 139 000 zar highest average actual maximum salary is higher.

We base this assignment on gross national income gni per capita current us calculated using the atlas method. Inequality manifests itself through a skewed income distribution unequal access to opportunities and regional disparities. This is the average monthly salary including housing transport and other benefits. This figure ranges between about r24 and r240 a day.

In analysing the actual middle of the income distribution in south africa for 2008 i use an interval of 50 to 150 of the median per capita income per month which was r759 in 2008. If you have a salary of r7313 or more per month then you are in the top 10 percent of south africa. South africa suffers among the highest levels of inequality in the world when measured by the commonly used gini index. Income inequality in south africa.

The covid 19 pandemic is threatening previously cushioned sections of society with what poor and working class individuals and households have always lived through. Weather forecast alerts and uvb index for all south african provinces 17 november 2020. In south africa economist justin visagie describes the middle class as a household of four persons with a total income of between r5 600 and r40 000 per month after direct income tax. This page provides south africa total quarterly.

Six charts explain south africa s inequality. This means that the literal middle group in south africa comprises households earning between r380 and r1 140 per capita per month in 2008 money terms.