Good news: wage growth remains well above inflation in 2024

Good news: wage growth remains well above inflation in 2024
Good news: wage growth remains well above inflation in 2024

© Olivier Le Moal/Adobe Stock

– The basic hourly wage index for workers and employees (SHBOE) is the one that has progressed the best.

You have to find something to reassure yourself. Despite the continuing difficulties faced by the French regarding their purchasing power, the increase in wages has far exceeded price development for consumption, early 2024. This is what BFM TV reports, which cites here the figures from the Directorate of Research Animation, Studies and Statistics (Dares), which looked at the basic monthly salary index (SMB ).

According to the organization, this index increased by 1.3% during the first quarter of 2024. Over one year, it increased by 3.3%, after the 3.9% of the previous quarter. In the same period of time, inflation stood at 2.1% between March 2023 and March 2024. Small subtraction: the evolution of the base salary is 1.2 points higher than that of price to consumption. In the first quarter of 2023, it was only 0.2 points higher.

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Eight quarters of purchasing power achieved

The basic hourly wage index for workers and employees (SHBOE) is the one which has progressed the most, compared to all monthly remuneration (+1.4% in companies with ten employees). Workers are the socio-professional category which records the greatest gain : +3.8% of the basic monthly salary compared to 3.4% for employees, 3% for intermediate professions and 2.8% for executives.

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All categories of employees are now in the green. Including executives, who had lost purchasing power in the fourth quarter of 2023. All this therefore forms a lull in a period, since the surge in prices at the start of 2021 has had a lasting impact on the purchasing power of employees with, for eight consecutive quarters, a level of inflation higher than the evolution of wages. Wages which increase faster than prices, an exceptionor again the norm ?

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