Wages grew faster than inflation on average in 2023 in France

Wages grew faster than inflation on average in 2023 in France

In 2023, for the first time in two years, wages have progressed on average more than the rise in prices, according to provisional data published this Friday by the research department of the Ministry of Labor (Dares).

In details, the basic hourly wage of workers and employees in companies with 10 or more employees in the private sector excluding agriculture, individual employers and extraterritorial activities, increased by 0.4% during the fourth quarter of 2023, according to Dares.

Over one year, this salary with a minimum wage which was increased twice increased by 4.1%. “These developments must be compared to inflation: consumer prices (for all households and excluding tobacco) increased by 3.6% between the end of December 2022 and the end of December 2023,” specifies Dares. As a result, in constant euros, this basic salary increased by 0.5%.

Large disparities between socio-professional categories

However, this is an average. There are therefore large disparities depending on socio-professional categories. According to the ministry, for the fourth quarter, the basic monthly salary increased by 4.3% for workers, 3.9% for employees, 3.7% for intermediate professions and 3.3% respectively. for executives who are the only ones to lose purchasing power.

With the price drop looming for 2024 before returning to 2% by 2025, according to the governor of the Bank of France, François Villeroy de Galhau, it is possible that companies will nevertheless continue with salary increases. . Consulting firms expect increases in 2024 from 3.6% to 4% in all sectors of activity. “84% of our members have planned increases between 0 and 5% in 2024, excluding the value sharing bonus that 45% have planned to distribute based on their order book,” Audrey Louail recently affirmed in our columns, president of CroissancePlus, a network of 500 business leaders. According to the manager, 39% have planned increases between 3 and 5%.

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