Cooling Economic Outlook - December 2022


Conjoncture in France- December 2022


In Q3 2022, the average wage per capita (SMPT) in the non-agricultural market branches continued to rise steadily (+0.9% after +1.0% in the previous quarter), in a context of high inflation which favoured wage renegotiations and led to an automatic revision of the minimum wage (SMIC) in August (+2.01%). Since 1st July, the SMPT has also been driven by the introduction of the value sharing bonus (PPV), which replaced the extraordinary purchasing power bonus mechanism (PEPA). This allows employers to pay out, under certain conditions and between July 2022 and December 2023, up to 3,000 euros in bonuses (6,000 euros in the event of a collective incentive or profit-sharing agreement), all tax-exempt and exempt from social contributions. In Q4, the SMPT is likely to accelerate significantly (+1.7%) with the continuing rise in prices and the ramping up of the PPV...

Conjoncture in France

Paru le :06/01/2023