France: Employees’ purchasing power and corporate profitability

Are French companies’ profitability and profit margins high enough for them to offer a marked increase in wages that will significantly improve the employees’ standard of living? When we look at the trend in French corporate earnings, we see that the increase in profitability and margins since 2013: Is not due to a squeezing of wages (they are increasing faster than productivity); Is almost entirely due to the fall in interest payments on corporate debt, thanks to the very low interest rates; Is not due to corporate taxes, whose weight is increasing. Also, despite their improvement , French companies’ earnings are insufficient to finance their investments, while their investments in new technologies are too small, and their debt ratio has increased . Base d on all this, the conclusion seems to be that it would be dangerous to increase wages if this will reduce corporate profit margins.