South Africa: Labor cost

* indicates monthly or quarterly data series
The most recent value is 154.6 index points as of Q4 2024, an increase compared to the previous value of 152.8 index points. Historically, the average for South Africa from Q3 2015 to Q4 2024 is 126.47 index points. The minimum of 100.9 index points was recorded in Q3 2015, while the maximum of 154.6 index points was reached in Q4 2024. Click on the following link to see the values of: Labor cost around the world.
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* indicates monthly or quarterly data series

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  • Measure: index points
  • Source: South African Reserve Bank

Recent values South Africa: Labor cost index
2024  Q4 154.6
2024  Q3 152.8
2024  Q2 150.7
2024  Q1 149.9
2023  Q4 148
2023  Q3 144.7
2023  Q2 142.6
2023  Q1 142.7


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Definition: The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.

 Related indicators Latest Reference Measure
 Labor force 27.14 2023 million people
 Unemployment rate 33.17 2024 percent
 Female unemployment 29.87 2023 percent
 Male unemployment 26.32 2023 percent
 Youth unemployment 49.14 2023 percent
 Labor force participation 58.08 2023 percent
 Labor force: percent female 46.98 2023 percent
 Female labor force participation 52.38 2023 percent
 Male labor force participation 64.27 2023 percent
 Self-employment 28.99 2022 percent
 Informal employment 31.50 2020 percent
 Employment 16.79 Q1/2025 million employed people
 Unemployment rate 32.90 Q1/2025 percent
 Labor cost 154.60 Q4/2024 index points
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