The standard of living in France is deteriorating, especially compared to a country like the United States.
1. It is cheaper for Americans to come to Paris for a Taylor Swift concert than to buy a ticket for the same concert in the United States
Imagine that it is cheaper for an American to buy a flight to Paris, accommodation and a ticket to a Taylor Swift concert than to buy a ticket to the same concert in the United States. However, this is a reality, due to dynamic pricing that pushes ticket prices to astronomical levels across the Atlantic.
2. The share of wages between 1 and 1.6 SMIC is not only the majority but continues to grow
In France, more than 50% of employees receive a salary between 1 and 1.6 of the minimum wage. This share continues to increase, reflecting stagnant incomes that limit workers’ purchasing power and quality of life.
3. You only need to earn 2740 euros gross per month to be part of the richest 10%
You only need to earn 2,740 euros gross per month to belong to the 10% richest households in the country, according to French tax statistics.
4. In the US, it is possible to earn $100,000 a year, including health insurance, by working in a fast food restaurant for three years
In the United States, Chipotle fast food employees can earn up to $100,000 a year, including health insurance, after just three years. A striking contrast to the wage situation in France, where even well-paid jobs struggle to reach this level of income.
5. Discount Action has become the favorite brand of the French
Discount brand Action is experiencing resounding success in France, with weekly traffic steadily increasing. This trend reveals the growing need of the French to save.
6. Limited consumption continues to grow
Housing, energy, transport… Non-compressible costs now represent almost 60% of French household budgets, leaving little room for discretionary spending and limiting their ability to save or invest.
7. The poverty rate is increasing
In 2022, the poverty rate in France reached 14.6%, compared to 14.2% the previous year. An alarming trend that reflects the emphasis on economic and social inequalities.
8. The French are increasingly exposed
In 2023, almost 20% of French people lived without protection each month, with rates reaching 40% for single-parent families and households dependent on social benefits. Uncertain financial situation reflecting increased dependence on credit.
9. Food insecurity is on the rise
According to CREDOC, 16% of the French population is affected by food shortages. Rising food prices and declining purchasing power contribute to this new dimension of household economic fragility.
10. The poor are getting poorer
In 2022, the poorest 10% in France saw their purchasing power drop by 1.3%.