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France is working less and earning more

Olympic-size pay deals to avert strikes show the limits of labour reforms.

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While France is more attractive to foreign investors than it used to be, CEOs are grumbling again about labour costs relative to its neighbours.

Strikes on trains and planes have been averted in return for higher wages, more time off and an offer to soften later retirement.

PHOTO: REUTERS

Lionel Lauren

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May Day was a big deal in France in 2023: Almost one million protesters took to the streets over President Emmanuel Macron’s unpopular push to get people to work longer and retire later. But in 2024, only about 120,000 people turned out, the protest equivalent of a Gallic shrug.

Could this be the sign that the French are on board with Mr Macron’s pro-jobs “revolution”? Don’t count on it.

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