In its latest study, INSEE thus revealed that the median salary of French people in metropolitan France, in 2019, was 22,040 euros per year. The median salary is not to be confused with the average salary. This is the number that separates the population into two equal parts. 50% of the French therefore earn less than 22,040 euros, 50% of the French earn more.
Between 2018 and 2019, the median salary climbed 2.6%, which is excellent news – and represents the strongest increase since 2000. There are also other statistics which provide a clearer picture. what your compatriots really earn. One of the most interesting is undoubtedly the lower and upper deciles.
Do you earn more or less than 22,040 euros per year?
Thus the 10% of the poorest people earn less than 11,600 euros per year. Conversely, the richest 10% earn around 3.4 times more, namely more than 39,930 euros. The INSEE specifies that the standard of living increased above all, in 2019, in the lower and middle brackets. The bottom of the scale has benefited from the fall in unemployment but also the widening and revaluation of the activity premium.
While the middle classes have benefited from a dynamism of wages thanks to social and fiscal reforms. INSEE mentions among others the “Elimination of employee unemployment insurance contributions on wages, tax and social exemptions from overtime and the exceptional purchasing power bonus”.
INSEE adds that inequalities fell sharply in 2019 after increasing sharply in 2018. The Gini index (an index that marks the level of inequality) is today at a fairly low level of 0.289. INSEE concludes: “In 2019, 9.2 million people live below the monetary poverty line, or 1,102 euros per month. The poverty rate stands at 14.6% and decreases by 0.2 points over one year. The intensity of poverty is almost stable and stands at 19.7% in 2019 ”.
Paradoxically, France is one of the countries in which neobanks, fintech and cryptocurrencies are most popular. The sign of a positive fundamental development in the standard of living of the French? It is too early to tell. Especially since INSEE has not yet looked at the year 2020 during which the coronavirus pandemic broke out and its brutal consequences on the economy and the standard of living of certain citizens.