Labor cost index in South Africa, Q4 2012 - Q3 2021:
For that indicator, we provide data for South Africa from Q4 2012 to Q3 2021. The average value for South Africa during that period was 154.6 index points with a minimum of 118.5 index points in Q4 2012 and a maximum of 190.9 index points in Q3 2021.
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Measure: index points
Source: South African Reserve Bank
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.