2023-12-15 17:01:28
The increase in the minimum wage on January 1, 2024 will be 1.13%. This will bring the gross hourly minimum wage to 11.65 euros, compared to 11.52 euros currently, according to an AFP calculation based on the level of inflation in November, which reached 3.5% over one year. This will represent around 15 euros net more per month.
For full-time work, the gross monthly minimum wage will thus be increased to 1766.92 euros, an increase of 19.72 euros per month. In net, the minimum wage will increase from 1,383.08 euros to 1,398.69 euros, an increase of 15.61 euros net per month, again according to AFP calculations.
The Ministry of Labor must formalize this increase during the day. The government can choose to go beyond the automatic increase with a “nudge”, but this seems out of the question and there has not been one since 2012.
This increase is significantly lower than what was predicted at the end of November by a group of experts on the minimum wage, which expected a 1.7% increase in the minimum wage at the start of 2024.
The minimum wage 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.
As of May 1, the hourly minimum wage had been increased by 2.19%.
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