French hourly wages in the non-agricultural market sector (excluding household services) rose 0.1% QoQ and 2.5% YoY in Q1 2025, revised up from the first estimate of 2.3% YoY.

• Hourly labor costs increased 0.5% QoQ and 2.7% YoY, revised up from 2.4% YoY in the first estimate but slower than 2.9% YoY in Q4 2024.
• Industry wages rose 0.5% QoQ and 2.8% YoY, while construction wages dropped -1.9% QoQ and slowed to 2.3% YoY.
• Services wages increased 0.3% QoQ and 2.5% YoY, with gains led by information & communication (+3.4% YoY) and real estate activities (+3.8% YoY).
• Labor cost growth was highest in financial & insurance activities (+2.9% QoQ, +4.8% YoY) and information & communication (+1.0% QoQ, +3.5% YoY).
• The decline in Value Sharing Premium (PPV) payments—from €1.8B in Q4 to €520M in Q1—helped explain the wage growth deceleration.