Inflation Erodes French Purchasing Power as Unions Press for Minimum-Wage Increase

According to Jin10, French workers are calling on the government to ease pressure from rising living costs, while unions are pressing for a higher minimum wage. France's National Institute of Statistics and Economic Studies said Friday that inflation-adjusted private-sector wages turned negative in the third quarter, falling 1.1% from a year earlier. The decline was not surprising given the surge in inflation and the usual lag in wage adjustments, but the data at least partly reflect the reasons behind recent street protests over the cost of living. The minority government led by Prime Minister Sébastien Lecornu faces the challenge as it seeks to pass the budget and reassure anxious investors. Meanwhile, President Emmanuel Macron's term has entered its final months before next year's election. The figures also set the context for Monday's labor-management meeting, which Lecornu convened to address demands concerning wages and purchasing power.