Wage agreements covered an average of nearly 75% of paid employees in France in the period 1994-2005. Industry agreements covered nearly two-thirds of workers, while enterprise (i. e., single-company) agreements covered less than one-quarter. The percentage of employees paid at near-minimum-wage level (Salaire Minimum Interprofessionnel de Croissance: SMIC) makes an enterprise agreement less likely but industry agreements more likely. There is no systematic connection between the signing of an industry agreement and of an enterprise agreement. The intervals between two agreements— very often one year— reflect the obligation for firms and industries to bargain annually. Very few agreements have effects lasting several years. Some agreements ...