Discover the new amount of the minimum wage as of May 1

The health crisis, the increase in the prices of raw materials and energy and the war in Ukraine have made the prices of basic necessities and fuel prohibitive. Millions of French people are struggling with the rising cost of living.

The therefore, the revaluation of the SMIC will be a significant contribution. This is good, because the revaluation of the growth interprofessional minimum wage (SMIC) should come into force as of May 1, 2022. According to information collected by AFP from the Ministry of Labor, this increase would be between 2.4 and 2 .6%.

I revalued itSMIC setup

Although the exact amount will not be revealed until April 15, 2022, the sum of €40 is more and more persistent. It is only a matter of days, the Ministry of Labor awaits the publication of its final estimate of price increases for the month of March. It is after this publication that the exact amount of the revaluation will be officially announced.

The appreciation of the RSA

The RSA will also appreciate. This will certainly help more modest households. The government is also considering better to increase the RSA than the activity bonus. The activity bonus has increased by 1.8% since April 1, 2022. As for the lump sum, it now reaches €563.68 when before April it was €553.71.

It should be noted that in France, more than 4.5 million people live in this assignment issued by CAF. For people living alone, the RSA went from €565.34 to €575.52. This is equivalent to an increase of ten additional euros.

What is inflation?

Inflation is the increase in the price of goods and services that occurs over a period of time. So we say that purchasing power decreases or that the cost of living increases. In France, inflation is measured by INSEE. The variation of specific consumer products is thus calculated and measured over a well-defined period. When the organization notices an increase in prices, it is called inflation.

There is not inflation when the cost of certain products increases while it is compensated by the decrease of other products. On the other hand, if the average price of consumer prices falls, it is called deflation. Each year, the SMIC is calculated relative to inflation.

In the month of March 2022, it was found that in France the cost of living has increased by 4.5% in one year. These provisional INSEE figures confirm the 3.6% increase seen in February 2022. This trend has continued to worsen since 2017.

The second update of the year.

The continuing rise in the standard of living prompted the Ministry of Labor to act. Although it is only April, there is already talk of raising the amount of the minimum growth wage (SMIC) twice.

This increase of around 2.5% in the minimum wage is supposed to offset the consequences of inflation measured by INSEE by 4.5% in one year. In fact, the monthly minimum wage should increase from 1,269 to 1,304 euros. Please note that these are estimates only. The exact amount of this revaluation will not be communicated until April 15.

The Labor Code recognizes the need to improve of the minimum wage when the level of inflation exceeds 2%. Therefore, we eagerly await the date of April 15 to see the final report of INSEE. The last time the SMIC increased was on January 1, 2022. It was an automatic increase of 0.9%.

Please note that if an employer came to pay an employee less than the legal amount of the minimum wage, you are exposed to a fine of €1,500. And this, in addition to an order for payment of damages to the person he employed.

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