Home  Journals  Finance and Credit  3(795) - 2020 March

Analyzing the level of wages in the Astrakhan Oblast

Received: 12 February 2020

Received in revised form: 26 February 2020

Accepted: 13 March 2020

Available online: 30 March 2020

Subject Heading: THEORY OF FINANCE

JEL Classification: М12, М21, М52

Pages: 565–579

https://doi.org/10.24891/fc.26.3.565

Subject The article considers theoretical aspects of nominal, accrued, real, and disposable wages and savings in the Astrakhan Oblast in various areas of economic activity.
Objectives The study aims to review movements in wages and their level, develop methods for assessing wages, calculate and analyze real wages and savings in the Astrakhan Oblast.
Methods The study draws on the analysis of data on the number of employees and their wages and salaries in the Astrakhan Oblast, which are provided by the Office for National Statistics, and the calculation of indicators based on these data.
Results We analyzed trends in wage increase and the number of employed population in the Astrakhan Oblast. The paper systematizes theoretical aspects of wage assessment, presents calculated indicators of real wages and savings of the employed population. The indicators of savings are divided into groups reflecting the level of household wealth. We provide diagrams illustrating the demand for labor in the Astrakhan Oblast. The findings may be useful for the analysis of living standard in the said area, its socio-economic level. They are also helpful for formulating directions for the region's development.
Conclusions Despite the growth of nominal wages in most spheres of economic activity, more than half of the population of the Astrakhan Oblast do not have incomes to satisfy all their social and spiritual needs, since a large portion of income goes to the minimum needs of subsistence, payment for utilities, cellular communication services and internet, and transport.

Keywords: wage, savings, employed population, subsistence level, demand for labor

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