The role of state regulation of wages

Authors

DOI:

https://doi.org/10.58423/2786-6742/2023-4-60-69

Keywords:

salary, wages, state regulation, martial law, minimum wage, tax benefits

Abstract

Salary as a form of remuneration is a key aspect of the functioning of any economic system. Paying for labor is both an economic component and a social one, because it affects the quality of life of citizens and social justice. Optimum wages guarantee the social protection of workers, and also affect the level of consumer activity, which in turn has a great impact on macroeconomic stability. However, in view of the social, political and economic challenges, such as: the introduction of martial law, rising inflation, globalization and changes in the structure of the labor market, which arise in the modern world, the issue of wage regulation is of paramount importance. Despite the martial law, the employer must take all possible measures to ensure the realization of the right of employees to timely receipt of wages, as well as take care of the safety of employees. The subject of this work is the role of state regulation of labor remuneration in Ukraine. The purpose of this study is a thorough analysis and consideration of issues related to the regulation of labor remuneration, identification of problems of state regulation of labor remuneration in Ukraine and determination of ways to eliminate them. The work used such methods for collecting and analyzing information as: legislative analysis, statistical analysis, comparison and literature review. The issue of wage regulation, its main aspects and impact on the economy and society is described. Changes in the current legislation and new tools for regulating labor relations related to martial law are evaluated. The dynamics of wages for 2020-2023 and the dynamics of changes in the inflation index for the same period were analyzed. The problems of state regulation of labor remuneration in Ukraine were considered and ways of solving them were determined. The results of these and other similar scientific studies can help employers set fairer tariffs and wages that take into account inflation and consumer spending, which in turn will contribute to improving the standard of living and social protection of the population.

Author Biographies

Olena Кravchenko, Sumy State University

PhD, аssociate Professor

Alona Badai, Sumy State University

student

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Published

2023-12-22

Issue

Section

National and regional economy