Bridges May: less impact for the tricolor economy in 2014 – BBC

According to INSEE, the 4 public holidays in May cost about 5 billion euros to the French economy. In contrast, the 2015 calendar is more lenient to the national wealth than in 2014.

The eternal battle of numbers. Each year, when comes the merry month of May long weekends and bridges, economists and political clash on the real impact of these non-working days on the tricolor national wealth. The month of May 2015 is no exception to the rule, with 3 holidays offering long weekends (1st and 8th May, Whit Monday) and a potential bridge (Ascension) that provide at least 14 days rest to workers. These figures have again boosted Thursday Medef, the employers’ organization reiterates its call to remove two of the 11 days annual holiday traffic. According to its Vice President Thibault Lanxade, this measure would boost almost 1% of French growth, and create 100,000 jobs. An encryption which however seems quite optimistic with regard to the economists.

According to the OFCE (French Observatory of Economic Conditions), the impact of a non-working day in industry n ‘ is not neutral: -0.4% for the French GDP. But this impact is to balance with the positive effect of these forced leave on tourism and catering (about 3 billion). In total, according to Insee (Insee), a holiday would have a more limited impact than 0.06% of national wealth.

It is therefore the addition of non-business days pushed the bill: no less than 0.24% of GDP and EUR 5 billion for the four public holidays in May. All this without counting possible days (RTT paid leave) posed to it last. But again, the figure is to be taken lightly, because the impact of public holidays gauge on the year. Furthermore, the economic consequences of a holiday falling on Wednesday, exceed those of a day off on Friday or Monday. But this year, three of the four holidays May holidays fall precisely at the beginning or end of the week: Friday for the 1st and 8 May and Monday for Pentecost. Finally, in times of sluggish economy, stop working one day would be less penalizing than in upturns or intense activity.

All in all, according to INSEE sequencing 11 Holidays in 2015 will have a positive impact of 0.06% on French growth compared to 2014, with 1 working day less. In 2016, with 253 working days (still more than in 2015), the same calendar effect will boost GDP by 0.11% (0.17% for the most optimistic).