The economic and financial crisis of 2008 permanently penalized the purchasing power of the French, according to a study published Thursday by France Stratgie, which looks at the evolution of the standard of living between 2010 and 2019.
The slowdown in purchasing power in the 2010s, following the 2008 crisis, affected all age groups, notes the organization attached to the Prime Minister. For the youngest, this has meant less progress; for those over 55, this has resulted in a drop in purchasing power, adds France Stratgie, which has followed for a decade the evolution of the standard of living of more than a million French people aged 30 to 69 years in 2010. In this sample, disposable income per consumption unit – the INSEE indicator that best captures changes in individual purchasing power – increased by an average of 5.4% over the decade.
A much less dynamic increase than the increase in the purchasing power of the French population as a whole over the same period, measured at 9.7% by INSEE. The 5.4% increase is only an average, also reminds France Stratgie. Within its sample, people aged 55 to 69 in 2010 saw their purchasing power drop by more than 7% between 2010 and 2019.
the average standard of living of 55-64 year olds (the best off in 2010) fell from about 2500euros in 2010 just over 2300 euros nine years later. The 65-69 year olds have gone from a little over 2410euros per month to an average of around 2240euros. Conversely, people in their forties in 2010 (40-49 years old) saw their average standard of living increase by 15.4% over the decade, or around 300 euros.
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But for the five generations studied by France Stratgie, the change in the standard of living from 2010 was in any case less favorable than that experienced by the same age cohorts between 2000 and 2009. For example, people aged 30 39 year olds in 2000 saw their purchasing power jump by 20% in nine years, while the 2010 cohort of 30-39 year olds only recorded a 7% increase in their standard of living.
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