Increase in the minimum wage this summer, it will reach a symbolic record for the first time

Increase in the minimum wage this summer, it will reach a symbolic record for the first time
Increase in the minimum wage this summer, it will reach a symbolic record for the first time
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The interprofessional minimum wage for growth (Smic) does not change according to inflation. We might think that it would be logical to index the latter to the rate of inflation. So, if the consumer price index increases, the minimum wage increases in parallel.

This is not how the French system works. In France, several key players are participating in the revaluation of the minimum wage. Inflation is one of them. However, the final decision rests with the government of the day. The latter ensures that this minimum wage is revalued, in order to take into account various economic and social factors.. The goal is, ultimately, to guarantee a fair minimum wage.

The evolution of the minimum wage over recent years

This has obviously not escaped you, we have been experiencing a long period of crisis for years. Many economists predicted this crisis, but the health situation of 2019 and 2020 only accelerated what logically should happen : record inflation, almost everywhere in the world.

Consequently, the amount of the minimum wage is on an upward trajectory. In January 2020, for example, the gross hourly minimum wage was 10.15 euros. A year and a half later, in August 2022, it was 10.85 euros. Finally, in 2024, it is 11.65 euros. This represents a gross monthly amount of 1,766.92 euros for 151.77 hours of work.

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It’s not going to stop there. In fact, in the coming weeks, the government plans a further increase in the minimum wage. An increase which comes at a time when the political situation in the country is experiencing uncertain times. In question, the next legislative elections, which will see two blocks which are distinguished. The National Rally on one side, and the New Popular Front on the other.

An increase in the minimum wage in 2024?

This is obviously good news for workers who earn the least. For them, the increase in the minimum wage is very important. And unless the situation changes, this revaluation should occur in the coming weeks.

Indeed, because of persistent inflation, this minimum income should increase by 2% this summer, thus bringing the net amount to more than 1,400 euros per month (or approximately 1,800 euros gross).

Currently, the minimum wage amounts to 1,398.69 euros net per month (1,766.92 euros gross) for a 35-hour work week. This remuneration had already been adjusted on January 1, in response to inflation.

Behind the scenes behind this increase

According to the official website of the French administration, each increase of at least 2% in the consumer price index is automatically followed by an increase in the minimum wage in the same proportions. It is this mechanism that allows the minimum wage to benefit from several increases in recent years.

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The minimum wage should therefore exceed the symbolic threshold of 1,400 euros net per month. Although this increase represents significant help in combating precariousness, it may not be enough to significantly improve the situation of certain French households, still struggling despite these adjustments.

This is why we invite you to take note of the different programs for the legislative elections. Vote with your soul and conscience, but do not forget, beyond the symbol that your party represents, to check the social and economic measures that it wishes to put in place.

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