Informations Rapides ·
19 March 2025 · n° 66
In Q4 2024, hourly wages increased by 2.4% over a year, hourly costs by 2.7% Labour cost index (LCI) - Detailed results - fourth quarter 2024
In Q4 2024, hourly wages increased by 0.7% over the quarter and by 2.4% over a year
In the fourth quarter of 2024, hourly wages in the non-agricultural market sector (excluding services to households) accelerated slightly: +0.7% over the quarter, after +0.5% in the previous quarter (seasonally and trading day adjusted data). Nevertheless, over a year, wages slowed: +2.4% in the fourth quarter of 2024, after +2.8%. The pattern of wage growth was marked, on the one hand, by the Value Sharing Premium (“PPV”), whose payments, although massive at the end of 2024, had decreased compared with the previous year: €1.8 billion of PPV was paid to employees in the fourth quarter of 2024, after €450 million in the third quarter of 2024 and €2.6 billion in the end of 2023. On the other hand, the slowdown in wages was part of a trend that has been observed since mid-2023, as wage negotiations took account of falling inflation.
In average annual changes, over the whole of 2024, hourly wages rose by 2.7% (after +4.2% in 2023 and +3.5% in 2022), i.e. more than prices (+2.0% in average in 2024, after +4.9% in 2023 and +5.2% in 2022). However, the gains in real wages observed in 2024, thanks to the fall in inflation, offset only in part the losses accumulated in 2022 and 2023.
By sector, in the fourth quarter of 2024, hourly wages slowed slightly but remained dynamic in industry (+3.2% over a year, after +3.4%), while they slowed sharply in construction (+2.9%, after +3.4%) and in services (+2.0%, after +2.5%). In particular, in finance-insurance, wages were affected by the sharp decrease in PPV payments.
tableauYear-on-year changes of LCI – hourly wages
| Total | Industry | Construction | Services | |
|---|---|---|---|---|
| 2024-Q4 | 2.4 | 3.2 | 2.9 | 2.0 |
| 2024-Q3 | 2.8 | 3.4 | 3.4 | 2.5 |
| 2024-Q2 | 2.9 | 3.3 | 2.6 | 2.7 |
| 2024-Q1 | 2.8 | 2.8 | 2.3 | 2.8 |
| 2023-Q4 | 3.2 | 3.2 | 2.8 | 3.2 |
| 2023-Q3 | 4.2 | 4.5 | 3.8 | 4.0 |
| 2023-Q2 | 5.0 | 5.1 | 5.0 | 4.9 |
| 2023-Q1 | 4.3 | 4.2 | 5.0 | 4.1 |
| 2022-Q4 | 5.4 | 5.8 | 5.4 | 5.2 |
| 2022-Q3 | 3.9 | 3.5 | 4.4 | 3.9 |
| 2022-Q2 | 2.0 | 3.0 | 3.0 | 1.5 |
| 2022-Q1 | 2.5 | 3.2 | 2.8 | 2.2 |
| 2021-Q4 | 0.6 | 1.1 | 1.6 | 0.2 |
| 2021-Q3 | 1.5 | 1.6 | 2.2 | 1.3 |
| 2021-Q2 | -2.2 | -1.5 | -3.0 | -2.0 |
| 2021-Q1 | 2.4 | 1.3 | 1.2 | 3.3 |
| 2020-Q4 | 4.3 | 2.9 | 3.9 | 4.9 |
| 2020-Q3 | 3.1 | 2.3 | 2.5 | 3.5 |
| 2020-Q2 | 8.0 | 4.8 | 7.4 | 9.0 |
| 2020-Q1 | 2.2 | 1.6 | 1.8 | 2.4 |
| 2019-Q4 | 1.2 | 1.5 | 2.8 | 1.1 |
| 2019-Q3 | 1.7 | 1.7 | 2.8 | 1.7 |
| 2019-Q2 | 1.4 | 1.6 | 2.1 | 1.4 |
| 2019-Q1 | 2.3 | 2.7 | 4.4 | 2.1 |
| 2018-Q4 | 2.2 | 2.1 | 0.6 | 2.5 |
| 2018-Q3 | 1.9 | 1.8 | 2.2 | 1.9 |
| 2018-Q2 | 1.8 | 1.7 | 1.6 | 2.0 |
| 2018-Q1 | 1.5 | 2.1 | 0.7 | 1.5 |
| 2017-Q4 | 1.8 | 2.0 | 3.7 | 1.6 |
| 2017-Q3 | 1.5 | 2.3 | 2.3 | 1.2 |
| 2017-Q2 | 1.7 | 2.3 | 3.1 | 1.3 |
| 2017-Q1 | 1.4 | 1.7 | 2.2 | 1.1 |
| 2016-Q4 | 1.1 | 1.4 | 1.6 | 0.9 |
| 2016-Q3 | 1.3 | 1.5 | 2.5 | 1.1 |
| 2016-Q2 | 1.3 | 1.7 | 1.5 | 1.1 |
| 2016-Q1 | 1.6 | 1.9 | 2.4 | 1.4 |
| 2015-Q4 | 1.7 | 2.0 | 2.1 | 1.5 |
| 2015-Q3 | 1.4 | 1.6 | 1.0 | 1.3 |
| 2015-Q2 | 1.4 | 1.7 | 1.6 | 1.1 |
| 2015-Q1 | 1.3 | 1.9 | 1.2 | 1.1 |
| 2014-Q4 | 1.1 | 1.8 | 0.8 | 0.8 |
| 2014-Q3 | 1.4 | 1.6 | 0.8 | 1.3 |
| 2014-Q2 | 1.6 | 1.7 | 1.2 | 1.5 |
| 2014-Q1 | 2.2 | 2.2 | 2.4 | 2.1 |
| 2013-Q4 | 2.1 | 2.2 | 1.9 | 2.1 |
| 2013-Q3 | 2.3 | 2.6 | 2.1 | 2.2 |
| 2013-Q2 | 2.4 | 2.6 | 2.2 | 2.4 |
| 2013-Q1 | 2.1 | 1.9 | 1.3 | 2.2 |
| 2012-Q4 | 2.4 | 2.3 | 2.0 | 2.5 |
| 2012-Q3 | 2.4 | 2.6 | 2.3 | 2.4 |
| 2012-Q2 | 2.1 | 2.2 | 1.5 | 2.1 |
| 2012-Q1 | 1.8 | 2.6 | 1.0 | 1.6 |
graphiqueYear-on-year changes of LCI – hourly wages
- Scope: non-agricultural market sector excluding services to households.
- Source: URSSAF Caisse nationale, INSEE – Labour cost index (LCI), detailed results.
tableauChanges in LCI - hourly wages
| Quarterly variations | Yearly variations | |||
|---|---|---|---|---|
| Q3-24 | Q4-24 | Q3-24 | Q4-24 | |
| Industry | 1.2 | 1.3 | 3.4 | 3.2 |
| Mining and quarrying | 0.3 | 2.8 | 3.9 | 4.5 |
| Manufacturing | 1.2 | 1.3 | 3.4 | 3.1 |
| Electricity, gas, steam and air conditioning supply | 2.0 | 2.4 | 3.6 | 4.4 |
| Water supply; sewerage, waste management and remediation activities | 0.0 | 0.9 | 2.5 | 2.9 |
| Construction | 2.6 | 0.5 | 3.4 | 2.9 |
| Services | 0.0 | 0.6 | 2.5 | 2.0 |
| Wholesale and retail trade; repair of motor vehicles and motorcycles | 0.7 | 1.1 | 2.0 | 1.7 |
| Transportation and storage | 1.1 | 0.7 | 3.2 | 3.3 |
| Accommodation and food service activities | -0.3 | 0.7 | 1.9 | 1.2 |
| Information and communication | 1.4 | 1.1 | 2.5 | 2.9 |
| Financial and insurance activities | 1.1 | 0.4 | 4.6 | 1.0 |
| Real estate activities | -0.9 | -2.5 | 0.0 | -0.8 |
| Professional, scientific and technical activities | 0.7 | 0.9 | 2.6 | 2.1 |
| Administrative and support service activities | -3.3 | -0.1 | 2.2 | 2.8 |
| TOTAL | 0.5 | 0.7 | 2.8 | 2.4 |
- Scope: non-agricultural market sector excluding services to households.
- Source: URSSAF Caisse nationale, INSEE - Labour Cost Index (LCI), detailed results.
In Q4 2024, hourly labour costs increased by 0.4% over the quarter and by 2.7% over a year
In the fourth quarter of 2024, hourly labour costs in the non-agricultural market sector (excluding services to households) rose at the same rate as in the previous quarter: +0.4%. Over a year, hourly labour costs slowed, in line with wages: +2.7% in the fourth quarter of 2024, after +3.3%.
By sector, hourly labour costs slowed more in construction (+3.1% over a year, after +4.0%) and in services (+2.4%, after +3.0%) than in industry (+3.6%, after +3.8%). In the fourth quarter of 2024, the rise over a year in labour costs remained higher than the rise in wages; that was the result of the decrease in the amount of apprenticeship aids and the decline in exemptions of employers’ contributions, which had sharply increased between the end of 2021 and the end of 2023.
tableauYear-on-year changes of LCI – hourly costs
| Total | Industry | Services | Construction | |
|---|---|---|---|---|
| 2024-Q4 | 2.7 | 3.6 | 2.4 | 3.1 |
| 2024-Q3 | 3.3 | 3.8 | 3.0 | 4.0 |
| 2024-Q2 | 3.4 | 3.9 | 3.1 | 3.2 |
| 2024-Q1 | 3.3 | 3.3 | 3.2 | 2.7 |
| 2023-Q4 | 3.4 | 3.6 | 3.4 | 2.9 |
| 2023-Q3 | 4.1 | 4.5 | 4.0 | 3.5 |
| 2023-Q2 | 4.5 | 4.6 | 4.5 | 4.1 |
| 2023-Q1 | 3.8 | 3.6 | 3.7 | 4.3 |
| 2022-Q4 | 5.0 | 5.1 | 5.0 | 4.5 |
| 2022-Q3 | 3.7 | 3.2 | 3.9 | 3.8 |
| 2022-Q2 | 2.1 | 2.9 | 1.6 | 3.1 |
| 2022-Q1 | 2.3 | 3.0 | 2.1 | 2.8 |
| 2021-Q4 | 0.1 | 0.7 | -0.1 | 0.7 |
| 2021-Q3 | 0.9 | 1.2 | 0.8 | 1.4 |
| 2021-Q2 | -2.7 | -2.0 | -2.3 | -4.5 |
| 2021-Q1 | 1.8 | 0.8 | 2.8 | -0.1 |
| 2020-Q4 | 3.5 | 2.5 | 4.0 | 3.2 |
| 2020-Q3 | 2.1 | 1.7 | 2.5 | 1.4 |
| 2020-Q2 | 7.3 | 4.4 | 8.0 | 7.3 |
| 2020-Q1 | 2.1 | 1.8 | 2.1 | 2.1 |
| 2019-Q4 | 0.9 | 1.4 | 0.7 | 1.9 |
| 2019-Q3 | 2.0 | 2.0 | 2.0 | 2.6 |
| 2019-Q2 | 1.7 | 2.0 | 1.6 | 1.9 |
| 2019-Q1 | 2.2 | 2.6 | 2.0 | 3.8 |
| 2018-Q4 | 3.1 | 2.8 | 3.4 | 1.3 |
| 2018-Q3 | 2.8 | 2.6 | 2.8 | 3.2 |
| 2018-Q2 | 2.7 | 2.4 | 2.8 | 2.5 |
| 2018-Q1 | 2.2 | 2.7 | 2.1 | 1.4 |
| 2017-Q4 | 1.6 | 1.9 | 1.3 | 4.0 |
| 2017-Q3 | 1.1 | 2.1 | 0.7 | 2.3 |
| 2017-Q2 | 1.2 | 2.1 | 0.7 | 3.1 |
| 2017-Q1 | 0.4 | 0.9 | 0.0 | 1.7 |
| 2016-Q4 | 0.6 | 0.8 | 0.5 | 1.8 |
| 2016-Q3 | 0.9 | 0.9 | 0.7 | 2.8 |
| 2016-Q2 | 1.1 | 1.1 | 0.9 | 2.0 |
| 2016-Q1 | 1.9 | 1.9 | 1.7 | 3.3 |
| 2015-Q4 | 1.0 | 1.3 | 0.8 | 1.3 |
| 2015-Q3 | 0.8 | 1.0 | 0.6 | 0.3 |
| 2015-Q2 | 0.7 | 1.1 | 0.5 | 0.9 |
| 2015-Q1 | 0.8 | 1.3 | 0.5 | 0.5 |
| 2014-Q4 | 0.2 | 0.8 | -0.1 | 0.0 |
| 2014-Q3 | 0.5 | 0.6 | 0.4 | -0.1 |
| 2014-Q2 | 0.7 | 0.8 | 0.7 | 0.3 |
| 2014-Q1 | 1.4 | 1.3 | 1.4 | 1.6 |
| 2013-Q4 | 0.3 | 0.3 | 0.4 | -0.1 |
| 2013-Q3 | 0.6 | 0.9 | 0.5 | 0.3 |
| 2013-Q2 | 0.6 | 0.7 | 0.5 | 0.1 |
| 2013-Q1 | 0.2 | 0.0 | 0.3 | -0.7 |
| 2012-Q4 | 2.2 | 2.3 | 2.1 | 1.9 |
| 2012-Q3 | 2.3 | 2.6 | 2.2 | 2.2 |
| 2012-Q2 | 2.2 | 2.4 | 2.1 | 1.7 |
| 2012-Q1 | 1.9 | 2.9 | 1.6 | 1.3 |
graphiqueYear-on-year changes of LCI – hourly costs
- Scope: non-agricultural market sector excluding services to households.
- Source: URSSAF Caisse nationale, INSEE – Labour cost index (LCI), detailed results.
tableauChanges in LCI - hourly costs
| Quarterly variations | Yearly variations | |||
|---|---|---|---|---|
| Q3-24 | Q4-24 | Q3-24 | Q4-24 | |
| Industry | 1.2 | 1.2 | 3.8 | 3.6 |
| Mining and quarrying | 0.3 | 2.5 | 4.5 | 4.9 |
| Manufacturing | 1.2 | 1.1 | 3.8 | 3.5 |
| Electricity, gas, steam and air conditioning supply | 1.9 | 2.3 | 3.8 | 4.5 |
| Water supply; sewerage, waste management and remediation activities | 0.1 | 0.6 | 3.1 | 3.2 |
| Construction | 2.4 | -0.1 | 4.0 | 3.1 |
| Services | -0.1 | 0.3 | 3.0 | 2.4 |
| Wholesale and retail trade; repair of motor vehicles and motorcycles | 0.6 | 0.8 | 2.4 | 1.9 |
| Transportation and storage | 1.1 | 0.5 | 4.0 | 3.9 |
| Accommodation and food service activities | -0.3 | 0.3 | 2.4 | 1.3 |
| Information and communication | 1.3 | 1.0 | 2.8 | 3.2 |
| Financial and insurance activities | 1.1 | 0.2 | 4.9 | 1.9 |
| Real estate activities | -0.9 | -2.6 | 0.4 | -0.4 |
| Professional, scientific and technical activities | 0.7 | 0.6 | 3.0 | 2.4 |
| Administrative and support service activities | -3.2 | -0.3 | 2.7 | 3.0 |
| TOTAL | 0.4 | 0.4 | 3.3 | 2.7 |
- Scope: non-agricultural market sector excluding services to households.
- Source: URSSAF Caisse nationale, INSEE - Labour Cost Index (LCI), detailed results.
LCI revisions
Compared to the flash estimate published on 14 February 2025, the year-on-year change in LCI - hourly wages in the non-agricultural market sector (excluding services to households) in the fourth quarter of 2024 was revised upwards by 0.3 points; the one in LCI - hourly costs was revised upwards by 0.2 points. These revisions were the result of the integration of new information on the wage bill (in particular the inclusion of late administrative declarations).
Compared to the previous publication of detailed results on 13 December 2024, the year-on-year change in LCI - hourly wages in the non-agricultural market sector (excluding services to households) in the third quarter of 2024 remained unchanged; the one in LCI - hourly costs was revised upwards by 0.1 points.
For further information
Since December 2023, the results of the revised hourly labour cost index – All employees (ICHTrev-TS) are provided alongside this publication. The ICHTrev-TS is therefore now available approximately 75 days after the end of each quarter, rather than 100 days after. The methodological notes for this index are available in the “Documentation” tab, and the results can be consulted via the downloadable supplementary data file or the time series attached to this publication.
The ICHTrev-TS is primarily intended for users who need indicators of labour costs to upgrade their contracts. Therefore, this index (base 100 in December 2008) is not usually subject to any revision after publication. It is computed, every quarter, on the basis of data from the detailed results of the LCI then smoothed and made monthly to ensure less volatility. The choice of an index for the purpose of indexing a contract, or the appropriateness of temporarily deviating from the indexation rule provided for in a contract, is at the discretion of the contractors.
The ICHTrev-TS comprises a cost index and an employer contributions index. The latter measures changes in the variable “1 + rate of employer contributions”, where the rate of employer contributions is the percentage of employer social contributions and taxes minus subsidies based on wages and employment. Unlike the cost index, the employer contributions index is not made monthly (the three monthly values for the same quarter are identical).
Next publications :
Flash estimate of the first quarter of 2025: 15 May 2025 at 8:45 am.
Detailed results of the first quarter of 2025: 13 June 2025 at 8:45 am.
Pour en savoir plus
Since December 2023, the results of the revised hourly labour cost index – All employees (ICHTrev-TS) are provided alongside this publication. The ICHTrev-TS is therefore now available approximately 75 days after the end of each quarter, rather than 100 days after. The methodological notes for this index are available in the “Documentation” tab, and the results can be consulted via the downloadable supplementary data file or the time series attached to this publication.
The ICHTrev-TS is primarily intended for users who need indicators of labour costs to upgrade their contracts. Therefore, this index (base 100 in December 2008) is not usually subject to any revision after publication. It is computed, every quarter, on the basis of data from the detailed results of the LCI then smoothed and made monthly to ensure less volatility. The choice of an index for the purpose of indexing a contract, or the appropriateness of temporarily deviating from the indexation rule provided for in a contract, is at the discretion of the contractors.
The ICHTrev-TS comprises a cost index and an employer contributions index. The latter measures changes in the variable “1 + rate of employer contributions”, where the rate of employer contributions is the percentage of employer social contributions and taxes minus subsidies based on wages and employment. Unlike the cost index, the employer contributions index is not made monthly (the three monthly values for the same quarter are identical).
Next publications :
Flash estimate of the first quarter of 2025: 15 May 2025 at 8:45 am.
Detailed results of the first quarter of 2025: 13 June 2025 at 8:45 am.
Times series: Labour cost index - Base 2020
Times series: Revised Hourly Labour Cost Index - All employees (ICHTrev-TS)
Informations Rapides: Labour cost index (LCI) – Flash Estimate