Bìznes Inform (Oct 2021)
The Standard of Living of the Population and the Directions of its Increase in the Conditions of the COVID-19 Pandemic
Abstract
The article considers the impact of the COVID-19 pandemic on living standards in Ukraine and countries around the world. The status of the indicators of labor market development and the macro-economic indicators reflecting the standard of living of the population are evaluated. Negative tendencies of changes in unemployment rate during 2013–2020 and its exacerbation during the COVID-19 pandemic are determined. The authors analyzed changes in GDP levels in Ukraine and in Central and Eastern Europe, trends in the decline in the real wage index in Ukraine are highlighted. It is noted that the COVID-19 pandemic and quarantine restrictions have led to significant socio-economic consequences that have negatively affected the standard of living of the population of Ukraine. This is evidenced by the growth of unemployment of the population and a decrease in the level of real wages, the deterioration of macro-economic indicators, in particular gross domestic product. In order to increase the standard of living of the population in the context of the COVID-19 pandemic, measures have been identified that include: enhancing the amount of financial support for small and medium-sized businesses, providing tax benefits to enterprises that employ graduates of educational institutions; raising minimum social standards taking into account their corresponding level in the EU countries; development and implementation of the State-based social programs aimed at supporting socially vulnerable categories of the population in the context of the COVID-19 pandemic; improving the investment climate and attracting investments to the real sector of the economy; stimulating the development of youth entrepreneurship, introducing dual education, forming an effective dialogue in the spheres of education and business; use of reserves for the introduction of innovative forms of employment and self-employment of the population (freelance, part-time work, etc.).
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