Exactly how much will the more than three million French workers paid the minimum wage earn in 2024? The decision has just been made: the minimum growth wage will be increased by 1.13% on January 1, 2024, according to a calculation that the Ministry of Labor was able to confirm to us. In detail, the revaluation will reach 11.65 euros gross per hour, an increase of 1.13% compared to the current level (11.52 euros gross per hour).
Recommending the government to refrain from any “boost”, the group of SMIC experts had already published their annual report on Thursday, estimating that the automatic revaluation of the minimum wage in France on January 1 should be of the order of 1.7%. “The only automatic revaluation mechanisms preserve the purchasing power of the minimum wage in view of the increase in the consumer price index,” they then assured.
In France, the minimum wage – which is currently 1,383 euros net for full-time work – benefits from a mechanical increase each year, calculated according to two criteria: inflation observed for the 20% of households with the lowest incomes and half of the gain in purchasing power of the basic hourly wage of workers and employees (SHBOE). “Over three years, from January 1, 2021 to December 31, 2023, the minimum wage will have been increased seven times for a total of 13.5%,” the report also noted.
