The famous “price and wage loop” is struggling to activate. According to the latest figures from Dares (Animation, Research, Studies and Statistics Directorate), wages in the private sector increased by 0.9% in the third quarter, after 1.1% in the second quarter.
An acceleration that brings the year-on-year increase to 3.7%, which means that salaries increased by 3.7% compared to the third quarter of 2021. The salary trend remains stable, with constant increases for a year: in the second quarter, the deviation from 2021 was only 3.1%.
But these figures are still far from inflation, whose rate happily exceeded the 4% annual increase for several quarters. According to INSEE, consumer prices increased by 6.2% at an annual rate in October 2022, after +5.6% in the previous month.
Employees and workers better indexed
Dares also compares two indicators: the basic monthly wage, which concerns all employees, and the basic hourly wage of workers and employees (SHBOE), which only lists the earnings of workers or employees in companies with more than 10 employees. .
This SHBOE is growing faster than all salaries, 1.2% in the third quarter of 2022. Its growth reached 4.4% in one year. This, in particular, thanks to the indexation of the SMIC on inflation. The minimum wage follows price increases and has been adjusted several times this year.
Salaries rise faster, Dares underlines even more, in industry (+1.1%) or the tertiary sector (+1.2%) than in construction (+0.6%). Manual workers (+4.4% in one year) and wage earners (+4.5% in one year) see their compensation adjusted for inflation more quickly than intermediate professions (+2.8%) or executives (+ 2.7%), less indexed to prices and less directly affected by its rise.
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Source: BFM TV
