Impact of innovation on employment and wage in industry

Abstract

The purpose of the study is to substantiate and characterize the relationships between innovation and employment, as well as between innovation and wages in industry. With the help of methods of correlation-regression analysis and statistical data of a long trend, the existence of a high, direct correlation between the share of innovative products in the turnover of industry and between the index of innovative products in the turnover of industry and the index of the average monthly salary of a full-time worker in the industry of Ukraine is substantiated. Using a regression model, the change in employment in Ukrainian industry is quantitatively expressed when the share of innovative products in the sales turnover of Ukrainian industry changes by 1 p.p. Using Almon's method, a distribution-lag model with a lag of three years was built, with the help of which it was calculated how many index points the index of the average monthly salary of a full-time employee of the Ukrainian industry would change when the index of the share of innovative products in the sales turnover of the industry of Ukraine changed by 1. i.p.

Keywords

• earnings
• employment
• industry
• innovative products
• optimisation of industrial products