Industry leads grow
The year 2024 could mark a turning point in the fight against inflation, with pay rises expected to be significant in many sectors. The industry stands out in particular, predicting an average increase of around 4.1% for directors and executives. However, it should be noted that this increase will not be uniform across all sectors or for all professional positions..
Wages are rising, but there are losers
Despite the general upward trend, certain sectors and categories of employees may experience smaller growth. For example, professions affected by digitalization, such as accounting, risk seeing less lucrative salary increases.. This disparity highlights the complexity and heterogeneity of the labor market facing the challenges of inflation and digital transformation.
Measures to support purchasing power
The French government also plays a crucial role in this dynamic. With an increase in the value of index points in the civil service, expansion of value sharing bonuses and other measures, the executive is committed to reducing the impact of inflation and supporting purchasing power.. The initiative, worth several billion euros, aims to prevent a possible stagnation in purchasing power in the absence of such measures.
Increase overall wages and decrease inflation
Average salaries in France are forecast to rise by 5.3% in 2023, and this trend is expected to continue in 2024, albeit slightly more modestly.. At the same time, inflation is expected to decline from an average of 4.9% in 2023 to 2.6% in 2024. This combination of rising wages and falling inflation is likely to improve power purchases.
Role of private companies
Private companies also have a responsibility in this salary evolution. Faced with stress in the labor market and the need to attract or retain talent, they are encouraged to raise salaries. This increase, projected at around 4% in 2024, represents a direct response to current labor market challenges..
Positive but uneven development
Although these probabilities are generally positive, they hide inequalities. Salary increases will not be evenly distributed among different sectors and professional categories. In addition, certain sectors facing particular difficulties, such as those affected by the real estate crisis, may see more complex salary negotiations..
If 2024 promises to be a year of recovery for purchasing power in France, this development remains marked by significant sectoral and occupational disparities. The combination of government efforts, the dynamics of private companies and sectoral specificities creates a complex landscape, where gains in purchasing power will not be felt equally by all French people.
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