France: Is there an anomaly in income distribution?

It is often claimed today in France that companies' situation has become very good again and that it is possible to consider an across-the-board increase in wages. What to make of this idea? It is true that companies' situation is good despite the COVID crisis. However, in France there is no evidence of skewing of income distribution against employees, unnecessarily high corporate profitability or an abnormal increase in shareholder remuneration. In addition, well-to-do households have a considerable savings reserve; An across-the-board increase in wages without a rise in prices would therefore lead to a fall in French companies' profit margins that would be difficult to justify and dangerous for investment; Such an increase offset by a rise in prices would not increase real wages and would worsen France's price competitiveness, which is already weak given the level of product sophistication. We therefore do not believe that the conditions are currently being met in France for a widespread and non-targeted increase in wages.