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The French Minister of Labor announced on Thursday that the automatic revaluation of the minimum wage growth (smic) on 1 January 2019 would be "significant", while the protest movement of "yellow vests" is preparing for a third day of mobilization Saturday next.
"Given the trends on inflation, it will be an increase that will be higher than last year.There will be a significant revaluation," said Muriel Pénicaud on the French TV channel Franceinfo.
Every year on January 1st, the SMIC is revalued according to the inflation observed for the 20% of households with the lowest incomes, and half of the gain in purchasing power of the hourly basic wage earner and employee (SHBOE).
Currently, the monthly gross minimum is € 1,498.47, or € 1,184.93 net. The government will announce the revaluation "on December 19th, after consultation of the social partners on the 15th, and we will have the calculation figures on the 13th" explained the minister without specifying the exact rate of revaluation.
Muriel Pénicaud pointed out that 1.6 million French people who receive the smic have benefited from a monthly increase, thanks to the cuts in the unemployment insurance and sickness insurance premiums, ie "more than 35 euros per month" from November 2017 to November 2018, she said.
The French government has also announced that a delegation of "yellow vests" would be received Friday, November 30 by Prime Minister Philippe, on the eve of a new mobilization in Paris.
The "yellow vests" are citizens contesting the rise in fuel prices and their loss of purchasing power. After a first mobilization throughout France on November 17, gathering 280,000 people, a new day of demonstration on November 24 had gathered more than 100,000 people including 8,000 in Paris, where violent clashes with the police took place on the Champs-Elysées giving rise to about forty arrests. F
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